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

Closing a credit union account in arrears but arrears greater than loan

Options
  • 10-07-2013 2:14pm
    #1
    Nia7
    Registered Users Posts: 2 ✭


    Hello,

    I have 2100 in my shares and owe 1430 on my loan (including arrears), as my shares are greater than my loan I am wondering if I can close out my account and use the shares to offset the loan balance?

    I am no long living in my credit union area and this is why I want to close the account. I have been a member for three years.

    Do you think they would allow this? Is there anything I need to bring with me?

    Any advice is much appreciated as they will not discuss accounts over the phone.

    Thank you,


Comments

  • Options
    #2
    westies4ever
    Closed Accounts Posts: 1,456 ✭✭✭westies4ever


    In my local CU, if your shares are higher then your loan, you can close it off no bother. the difficulties arise when the loan is higher then the shares.


  • Options
    #3
    Anyone
    Registered Users Posts: 3,376 ✭✭✭Anyone


    Yes, you can do that. You dont owe loan+arrears, just the loan. Arrears are basically the amount of money you havent paid off your loan had you stuck to your agreed repayments.

    You will need your account book and some kind of ID.


Advertisement