No you should not refinance. You should look at your budget with fine tooth comb and readjust it so as to manage for the nest 2 years until your current loan/debt is cleared.
I should also add that in your original post you questioned whether you would get a loan from the CU yourself so why jump question someone harshly when they suggest you may not get one.
Danielle24, your attitude on this post is appalling. People come to this website to give and receive advice, if you choose not to listen thats your perogative - YOU posted for advice but seem to be bitter to those being honest with you. At least accept peoples honest opinion - and these are people who have been there, done that. When the Credit Union take a look at the amount you have borrowed and have outstanding, they may not want to offer you a loan and that is what posters are saying. "But i've never missed a payment" etc. etc. is not going to cut it with the CU now - people are falling into debt that they cant control or get rid of and lenders like the CU are a lot more wary of taking on any large debt.
Yes, pat on the back for getting your debt down to what it is now. Yes, another pat on the back for having the sense to want to improve on your education. But shame on you for your bad attitude about taking criticizm and advice. Humble pie does a lot for a person, seems like you could do with a big bite. I'd recommend going back over this post from start to finish like I did and take a good long look at your responses to people.
Hi,
However i'm considering taking out a loan with the CU over 5 years which will give me an extra 400e a month. I want to go back studying soon and to be able to enjoy my life more, plus (that's if they'll even give me a loan) when I have extra cash I can throw it off this loan.
Even if I did I wouldn't ask them, i've never been financially dependant on anyone and don't intend to start now.
No sorry I should have been more specific this is for 10k as part of the money I owe is interest free so it wouldn't make sense to pay that off with a new loan.
When you were running up your debts were you're parents/family members concerned at your "over the top" lifestyle? Did they express their concerns in any shape or form?
Is it now the case that you can't face the "I told you so" comments"?
Just remember that your parents love you unconditionally and would be very glad to help you out if you will let them.
Swallow your pride and take an interest free loan from them. I think I read somewhere in your post that you already have an interest free loan but do not want to include that one in your re-financing plans. This seems a little unfair to the people who gave you this loan. Your gain and their loss.
Where can you get interest free money?
I never said I got money it's a bill I have to pay back.
Well said.
Are you absolutely certain that you are not being charged interest on this bill?
If you entered in to an agreement to purchase a product or service but didn't understand that you had to pay for it then .........
I agree.
Danielle don't you think this thread has run it's course. Everyone on here is only trying to help you and you're lucky to be getting good free advice so a smidgen of gratefulness would be nice.
It's not a product or service, I don't have to pay interest on it.
But you said it was a bill? Oh dear! Don't tell me you purchased a service but never paid for it. It then became a debt but in your mind you have seperated what it is now from what it was originally.
I think you should re-finance. Many people have re-financed loans to reduce their monthly repayments and increased the term of their borrowings. This will usually mean that you end up paying more interest though. However if this means freeing up some cash to do some of the things you want to do then go for it. Re-financing can become addictive as can be seen from the excesses of the Celtic Tiger when people got new loans and then refinanced them against their homeloans.
In your case, however I am not so sure. You seem determined not to listen to other people or take advice. I think that your posts are the most aggressive that I have ever seen on AAM. In many of your posts you have contradicted yourself. I am not even certain that you are being truthful with yourself.
You have posted replies almost immediately after other people have posted leading me to believe that you are glued to your keyboard waiting to pounce on people who might dare say something negative to you or something you don't agree with.
As I said, re-finance. Once only. Get a variable rate on your new borrowings so that you can throw off surplus sums of money against this loan from time to time.
Just one thought on your company shares. Many staff might have the same thoughts as yourself when the lock in expires. Time your sale carefully.
I am not aggressive I appreciate people taking the time out to post, but it is so annoying when people post things like, you're never going to get a loan,why would people go out of their way to make negative comments like that which are neither helpful or relevant, or where I said that I have interest free monies to pay back and one poster posted 3 times to see if I was wrong or had made a cock up and to see if I really do in fact owe interest. It's like people want you to fall flat on your face.