Computer says no, damn i am up shit creek

[mummytopebs]

I have a loan which i pay a monthly amount on and a credit card. We have been managing with these payments (just) however the credit cards 0 per cent balance transfer rate is up. We have tried to get another one to change to 0 per cent and computer says no. So if the interest rate is 18.9 per cent how much interest am i looking at paying per month on a balance of £4000? The loan is for 20k, how the hell did i get in this situation?

Easily done - I speak from my experience. Life is expensive!

Look on MSE about which credit card/loan would be good.

It's a great website and would give you some options.

Don't feel bad. It's very easy to slip into this situation.

The interest payments will be about £70 per month.

One possibility would be to contact the people you have the loan with and ask them to extend the loan to cover your credit card balance. If you are up to date with payments, they may be willing to do this. You may also be able to extend the term of the loan, reducing your payments (even with the added balance). The interest rate goes up when you refinance, but this will probably be less than the credit card balance.

Good luck!

Can you split the loan with several 0% cards or look at getting a loan from the bank or remortaging to include the loan?