has anyone renegotiated a term loan

J

jmca

Guest
I am currently unemployed and have a 10K loan taken out over 5 years and due to mature in Sep 2011. I have gone to the lender to renegotiate terms to improve my cash flow. They have agreed to payments of approx 27 per week over the next 5 years which means I will pay an additional 1700 interest. Any advice?