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Reducing Personal Loan Payments

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  • 13-09-2010 10:52pm
    #1
    fire_man
    Registered Users Posts: 1,006 ✭✭✭


    I have a Personal loan for around 2500.Would it be possible to reduce or stop payments for awhile.I am going abroad looking for work so maybe i could start paying it off again when i get work abroad.


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    #2
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    I dont think the bank will, as long as you can make payments the bank wont really negotiate the terms of the loan.

    If you cant afford the payments its best to contact them to see if they can reduce your monthly payments.


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    #3
    mortgage
    Closed Accounts Posts: 6 ✭mortgage


    hello all
    fireman i am going to give you my opinion and not advice, firstly your bank has informed you that you have a contract with them, this is true however the contract is unilateral and unenforceable. you will only get in trouble if you start writing them letters and letting them know "how smart you are" tell them nothing, dont ever get a solicitor involved as this will definately cost you more, they will threaten you with everything under the sun and its all just bluster and bluff. these bastards flaunted the regulations and have no respect for anyone, now they are reaping the whirlwind, well actually the taxpayer will, regardless if you contact me i can show you how i wrote off thousands and in some cases totally eliminated alledged debt, (they sold your signature to borrow money 10 times what they say you borrowed,so they have been paid) and in law a debt paid is a debt discharged) i have reams of paperwork on scores of cases proving this and am happy to share with anyone, a bank told my mother she owed them €45k this was settled for €15k with no adverse credit history, actually the credit bureau wasnt even informed, contact me and i will help you


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    #4
    Abelloid
    Registered Users Posts: 3,495 ✭✭✭Abelloid


    Woah. I suspect you are in for a flood of private messages...


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    #5
    mortgage
    Closed Accounts Posts: 6 ✭mortgage


    Jet Black wrote: »
    I dont think the bank will, as long as you can make payments the bank wont really negotiate the terms of the loan.

    If you cant afford the payments its best to contact them to see if they can reduce your monthly payments.

    you are right jet black i bet you dont "think" i would suggest you stay stum if you dont have anything factual to offer, there are people commiting suicide over a few bob allegedly owed to these thieves, unless you actually have experience dealing with banksters please keep your thoughts to yourself


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    #6
    mortgage
    Closed Accounts Posts: 6 ✭mortgage


    JustinOval wrote: »
    Woah. I suspect you are in for a flood of private messages...

    i would help anyone fight these thieves, what they put me through the years my god, anyway i took the positives and what i learned i want to pass on, this daylight robbery must stop


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    #7
    Abelloid
    Registered Users Posts: 3,495 ✭✭✭Abelloid


    mortgage wrote: »
    i would help anyone fight these thieves, what they put me through the years my god, anyway i took the positives and what i learned i want to pass on, this daylight robbery must stop

    Interesting. Any tips for converting a credit card balance to a personal loan? Bank isn't interested as they can extract more money from me on a balance that is very difficult to reduce.


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    #8
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    mortgage wrote: »
    you are right jet black i bet you dont "think" i would suggest you stay stum if you dont have anything factual to offer, there are people commiting suicide over a few bob allegedly owed to these thieves, unless you actually have experience dealing with banksters please keep your thoughts to yourself

    Unfortunatly it does not work like that here, the post is based on my opinion like yours and I am allowed to post it.

    Im keen to understand how you can call the banks thieves yet are trying to avoid paying back the money that was borrowed from them.


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    #9
    yungwan
    Closed Accounts Posts: 765 ✭✭✭yungwan


    fire_man wrote: »
    I have a Personal loan for around 2500.Would it be possible to reduce or stop payments for awhile.I am going abroad looking for work so maybe i could start paying it off again when i get work abroad.

    Hi Fireman

    It is possible to defer your payments.

    A friend of mine has done it recently, she was going abroad for college and she spoke to her bank about it.

    She changed the terms of her loan so that she is only paying off the interest. I think her loan was €1200 and she is now only paying €15 a month on it (the interest). You are still servicing your loan, and you may end up paying the bank a little more in the long run, but it is worth speaking to your bank about it, do not simply "ignore" the repayments. This will have severe reprecussions on your credit ratings.

    Do not take advice off people like "mortgage" above. I am impartial and have never worked in a financial institution.


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    #10
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    talk to the bank OP they may consider an interest only option with you which would be good for you. Thats probably your best bet as most banks wont give an out and out payment break and i can udnerstand that to be honest. If you are a good payer explain your situation and your intentions and see what they can do.

    What bank is it OP?

    Mortgage, OP is looking for sensible advice. Troll away elsewhere.


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    #11
    fire_man
    Registered Users Posts: 1,006 ✭✭✭fire_man


    Thanks for advice lads,My bank is BOI.I wount mind paying off around 500e before i go to keep them happy for a while,i will ask about interest only.


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    #12
    mortgage
    Closed Accounts Posts: 6 ✭mortgage


    Jet Black wrote: »
    Unfortunatly it does not work like that here, the post is based on my opinion like yours and I am allowed to post it.

    Im keen to understand how you can call the banks thieves yet are trying to avoid paying back the money that was borrowed from them.

    ok if i was to rob a person of €100000 i would be locked up for years,and rightly so! but that is what these thieves have done to all of us and our children, and what has happened? nothing. could i suggest you watch this http://www.youtube.com/watch?v=F-QA2rkpBSY and maybe you might understand where i am coming from, usury is not the future and has caused all the worlds problems, and bear in mind that only about 1% of people actually question their banks, yet all of us are overcharged, i just get mine back and sue them for robbing me, they pay up as they dont want it to go to court and get published. and i dont think i ever said i was avoiding paying back anything, i think you misunderstood. if however i made an agreement with a lending institution and later found them to be in dishonour that would be more than enough evidence, in a court of law, to have a contract made null and void. thats all i am saying, i


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    #13
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    mortgage wrote: »
    ok if i was to rob a person of €100000 i would be locked up for years,and rightly so! but that is what these thieves have done to all of us and our children, and what has happened? nothing. could i suggest you watch this http://www.youtube.com/watch?v=F-QA2rkpBSY and maybe you might understand where i am coming from, usury is not the future and has caused all the worlds problems, and bear in mind that only about 1% of people actually question their banks, yet all of us are overcharged, i just get mine back and sue them for robbing me, they pay up as they dont want it to go to court and get published. and i dont think i ever said i was avoiding paying back anything, i think you misunderstood. if however i made an agreement with a lending institution and later found them to be in dishonour that would be more than enough evidence, in a court of law, to have a contract made null and void. thats all i am saying, i

    got nothing to do with the OP's problem. He is asking for advice to reduce payments and he is getting useful advice of everyone. You are on a different planet and none of your post have provided any help to the OP on there issuel


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    #14
    Jet Black
    Registered Users Posts: 3,845 ✭✭✭Jet Black


    mortgage wrote: »
    ok if i was to rob a person of €100000 i would be locked up for years,and rightly so! but that is what these thieves have done to all of us and our children, and what has happened?nothing.

    How excatly have they robbed you/us? Overcharged for what? You complain to me about not knowing facts yet have offered none yourself.
    could i suggest you watch this http://www.youtube.com/watch?v=F-QA2rkpBSY and maybe you might understand where i am coming from,

    I understand how we got in the hole were in.

    usury is not the future and has caused all the worlds problems,

    What alternative would you suggest to the retail market?
    and bear in mind that only about 1% of people actually question their banks, yet all of us are overcharged, i just get mine back and sue them for robbing me, they pay up as they dont want it to go to court and get published. and i dont think i ever said i was avoiding paying back anything, i think you misunderstood. if however i made an agreement with a lending institution and later found them to be in dishonour that would be more than enough evidence, in a court of law, to have a contract made null and void. thats all i am saying, i


    Details please.


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    #15
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    mortgage infracted for swearing. Please read the charter before posting on this forum, particularly the parts relating to foul language, encouraging/advising posters to avoid repaying debts, and posting off topic.

    Everyone lets try to stay on topic and answer the OP's question, and not drag the thread off into a discussion on the banking crisis etc. Posters who wish to continue this discussion should do so via PM.


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