Loan repayments are crippling me

[Norky1975]

Is anyone else struggling with paying off a loan?
Mine is running for another 41 months and it's a big chunk out of my monthly income. Is there any tips for getting rid early?

Do you have any equity in your mortgage that you could take out? Failing that, speak to them and see if you can spread the term over a longer period?

Either of those options mean you will pay more long term but will mean you will be better off monthly.

Can you transfer any to an 0% credit card? I did that and I only have a small(ish) 0% debt left now.

I do feel your pain though, OP - being in debt sucks.

I had this with Halifax, albeit ten years ago. They doubled the term and reduced the interest rate so I paid the same amount back, just over a longer period.

Check overpayments are allowed before you look to transfer to a credit card.

Can you save money elsewhere to free up more spare money? Go through the Moneysavingexpert money makeover. Unless you are a hardcore money saver, there's usually something you can save money on (pay TV, internet, mobile phones, utilities etc).

Talk to your lender ASAP & tell them you're experiencing financial difficulties. I deal with banks through work & I have heard anecdotally they're very supportive these days