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    Debt Question

    So i have a loan from my bank here in australia, i got it for 25,000 for my car. I am 22 and since then been a bit silly with my money, i managing to save 200 a fortnight but i owe too much in bills, such as a expensive ring i got my girl, and a phone, i want to know if i can add to my loan, i have 8,000 remaining after 2 years and i want to know if i can borrow against that to pay off these debts and just pay one debt off, or is this not possible or not recommended, basically i am getting depressed because i am seeing all the money i could be saving, and the ring is over 12 months, 9 months left paying around 130 a month and the phone is for another 14 months paying 100 a month... thanks kindly

    #2
    what bank is it with? i am also australian, i know you can sometimes adjust the loans and get more money from them. you have paid a fair whack off in two years so they may be good about it. it doesnt hurt to ask. i had a friend who borrowed $6k for a nissan pulsar and then borrowed another $2k to put dvd players in it (yes, really) just by extending her loan, or whatever the terminology is.

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      #3
      Originally posted by b3nx View Post
      So i have a loan from my bank here in australia, i got it for 25,000 for my car. I am 22 and since then been a bit silly with my money, i managing to save 200 a fortnight but i owe too much in bills, such as a expensive ring i got my girl, and a phone, i want to know if i can add to my loan, i have 8,000 remaining after 2 years and i want to know if i can borrow against that to pay off these debts and just pay one debt off, or is this not possible or not recommended, basically i am getting depressed because i am seeing all the money i could be saving, and the ring is over 12 months, 9 months left paying around 130 a month and the phone is for another 14 months paying 100 a month... thanks kindly
      Hi b3nx,
      Hi there, You are already paying for the debt that you have taken. And if you take one more debt to pay of the debts that would be harassing you for long time. I would suggest you, instead of taking new debts,it's better to lookout for new ways of extra income by doing part time jobs , which will help you to pay of your debts easily.
      Hope this advice will help you out.

      Regards
      bankbars
      barclays.in

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