Mike said:hello all,
i took a 12K business loan with barclays about 2 or 3 years ago and i
currently owe 7,506. Looking at my statement my interest for the month of
june was 58.45 my monthly repayment is 282.96
I think i am paying quite a heavy interest rate.
question is.. would i benefit from taking another loan, one of these 9% apr
deals etc or as I read somewhere is it false economy to do so.. (i read
something like when you take another loan because it starts fresh again you
end up paying more interest in the long run)..
i was never good at maths in school so any help appreciated...
What was the original repayment period of the loan?