Options I may have to completely pay off my current loan as the interest rates are too high

So I’m facing a bit of a dilemma. I got a loan about two years ago to pay off my studies and some other stuff, Yes I was made well aware of the interest rate and at the time was able to pay off the monthly instalments.
It was my only option to get the amount I needed with one specific bank -auxmoney (as the others didn’t accept my request) but with it came higher interest rates which increased the amount to pay back by a whole lot more than I would’ve imagined (obviously did not care much about it at the time).
Now I’m facing a bit of a struggle, bills are piling up and its come to a point where I’m no longer sure how I’ll be able to pay it off at the current rate.

Do any of you know if there are options I may have where I could ‘‘take on a loan’’ with another bank of sorts that has lower interest rates so that I can pay off auxmoney and then just pay off the other bank in smaller Instalments ?

I’d appreciate any feedback

Try a loan consolidation. Like Lightstream. They Negotiate your loans to get them down to a lesser amount. Then, you have one payment. It takes just a few minutes online. Good luck. You might google Loan Consolidation.



Depending on where you are located and your financial situation, you’ll have to shop around for loan rates from various financial intuitions. @landesgood, gave a good suggestion on loan consolidation.

Can you negotiate a lower interest rate payment on your current loan? (I have done this in the past).