2006-09-26 05:07:42 · 5 answers · asked by PAUL C 1 in Business & Finance ➔ Personal Finance
Get a second job....pay every cent to the loan until it's gone..sucks but so does being in debt! If your'e paying high interest then seriously check into getting it switched over to something else. Like a line of credit or to a low, low credit card. If you have a mortgage then contemplate a consolidation...8K over a 20 / 25 year mortgage is nothing...dont run the debt up again though...live and learn!
2006-09-26 05:16:33 · answer #1 · answered by Lynne B 4 · 0⤊ 0⤋
Well this is what I'd do. ( this all depends on the individual's finanial situation). ...
1) make a pay off goal date....mmm 3yrs
2) divide 8000 by goal date (3).
- for 3 yrs the result is $2666...
- $2666... is your payments per year
3) divide payment per yr. by 12 (b/c 12 months equal a year)
- for $2666.. result is $222...
So that would make your pymts $222.. a month for 3 yrs and you'll have the loan paid off.
***Always keep in mind intrest rates, this formula does not include whatever your intrest rate is, all intrest rates are different***
I hope this helps
2006-09-26 05:26:50 · answer #2 · answered by sumyungn 1 · 0⤊ 0⤋
THERE IS NO EASY WAY NOW A BETTER WAY IS TO REFINANCE THE LOAN WITH A LOWER INTEREST RATE. NOW IF THIS IS A STUDENT LOAN YOU CAN ALWAYS GET A LITTLE MORE TIME BY ASKING FOR FORBEARANCE. OR YOU COULD TRY DOUBLING UP ON YOUR PAYMENTS IF YOU CAN.
2006-09-26 05:16:02 · answer #3 · answered by diamond girl36 2 · 0⤊ 0⤋
pay it up in one scoop
2006-09-29 02:10:12 · answer #4 · answered by Anonymous · 0⤊ 1⤋
go to www.moneysupermarket.com they'll help you find one.
2006-09-26 05:15:12 · answer #5 · answered by zozbabez 2 · 0⤊ 0⤋