Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Salary Reduction and Loan repayments

Options
  • 18-08-2011 9:09am
    #1
    [Deleted User]
    Posts: 0 ✭✭


    Hi Guys,
    I have a question that I'm hoping you can help me with.
    Currently I have 2 loans, one with the credit union and one with the bank.
    I pay back in total 635 euro per month between the two loans. I have paid these back for the past couple of years without any problems and my record with the bank and credit union is very good.

    I am about to take a huge cut in salary of just above 600 per month. Obviously this is going to have a huge effect.

    Can anyone tell me am I in a position to re-negotiate with both parties and maybe pay a nominal for of for example €50 each until I get back on my feet?

    Any advice would be very much appreciated.
    Thanks.


Comments

  • Options
    #2
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    My advice would be to speak with both and see what they say. They'll appreciate you being upfront and at the very least I'd expect the credit union to work with you but so might the bank depending on the size of the outstanding loan.


Advertisement