From: Doug Ramage 
Newsgroups: uk.finance
Subject: Re: loan query
Date: Tue, 06 Jul 2004 09:49:21 +0100

Mike wrote:

> 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?

Doug Ramage