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student credit union loan

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  • 10-08-2010 11:40am
    #1
    mflanagan95
    Closed Accounts Posts: 8 ✭


    i know i havent wrote in the correct so sorry and i didnt know where to write it. i recieved a court summons this morning. my loan is for 4000 euro but with the interest that has been added on its now 4500 euro. my mother is my guarantor. if i dont pay 180 in 10 days ( which i wont be able to pay ) i have to go to court september 13th. by the way its a student loan. in your opinion what do you think will happen if i go to court?


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    #2
    Anyone
    Registered Users Posts: 3,376 ✭✭✭Anyone


    For that loan to have accrued 500 euro in interest suggests you havent paid anything in a long long time. Credit Unions dont just jump to court straight away, so you obviously ignored all attempts by the credit union to contact you(letters,phone calls etc) and so did the guarantor.

    What will probably happen is that you and the guarantor will be instructed to pay a certain amount each week/month. You and the guarantor will have to pay all the legal fees aswell that the Credit Union has spent(this is in the agreement you both signed when taking out the loan).

    You should go into the Credit Union immediatley and stop burying your head in the sand.


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