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Freezing interest / moratoriums on loans

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  • 04-06-2010 1:52pm
    #1
    Klingon Hamlet
    Registered Users Posts: 2,738 ✭✭✭


    Hi i was wondering if BOI offer moratoriums on peronal loan repayments due to being made unemployed? And also if BOI and MBNA offer to freeze interest? Wanted an idea before I start asking/begging/pleading:o


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    #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    As far as I'm aware they will only grant moratoriums on mortgages, and only under certain circumstances. You could ask them to restructure the loan to give you a lower repayment though.


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    #3
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    The best you can expect is to go interest only on a loan, and even at that you would want to be in dire circumstances. Same with the credit card.

    A restructure would be the best option here. If you default then interest stops accruing. Of course by then it's likely that you'll be blacklisted on the ICB. Not the suitation you would want to be in TBH.


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