Bank Debt

bonbon86

Ok, Long story short, I been in debt for about 6 years, bank gave me a loan of 11000 for 5 years when I was 19-20 ish Always paid on time, never missed a payment, and after 2 and a half years I was let go from work as the place was soon shutting down. Told the bank I was let go, and no help what so ever and my loan insurance wouldn't cover me??, so now I'm still trying to clear it. But I kind of lost it with the banks solicitor about 3 months. I'm quite ashamed how badly I lost it and for the person who received my letter... but I was at my wits ends with threatening letters etc from them. But since I sent this letter I haven't heard from my bank. Does this mean there leaving me alone or is there worse to come?? Roughly have about 9000 left on it.

This is the letter I sent. And please don't judge, Ive never lost it or spoken to anybody like this before and I'm very ashamed of how I delt with the situation.


Hi, yeah contacting you in regards to my loan, I got your letter, I've missed payments sorry about that. But to be honest, I dont really care, cause life is ****e, every thing is ****. I was made take out insurance on this loan when I got it an they wouldn't help when I lost my job. Ya know im trying my best, and im paying this 6+ years now. And now all I feel like doing is locking myself in my room and smashing my face in with a brick and hoping I do enough damage that id forget about my debts or even drive my car off a bridge an kill myself! Cause I can tell ya death looks a whole lot prettier then life right now! Its all just ****ed up, money money money. If my insurance had of done what it was supposed to, I wouldn't be in this mess. Ya know im only 26, and for 90% of this short life ive been controlled or threatened, people deciding what's best for me, two child abusers in my life one kills himself and another one starts, and now threats from the bank. To be honest I dont know how much more I can take of all this.

Kind regards

Black Swan

MOD TRANSFER COMMENT:
This original post pertains more to a personal banking issue than to the larger Irish Economy. It is being moved to Banking (Locked, so that mods may review it for appropriateness).

BuffyBot

/reopened

OP: seriously, do you *really* think an crudely written letter will make them "forget" a large sum of money? If so, a lot of people in this country would be very, very happy.

Alas, it doesn't work like that. You need to take a deep look at things and address it head on. Digging your head in the sand and being ashamed won't make it go away. Make contact with your point of contact again, find out the current status of the loan/balance etc. Also get in contact with MABS url]www.mabs.ie[/url (it may take a while, they're understandably snowed under these days, but the sooner you get the ball rolling the better.

MadsL

Also OP, you may have been mis-sold loan protection insurance and may be entitled to write down/get a refund on some of that loan.

Trish56

Bonbon86- So sorry to hear of your job loss and the insensitive way you have been treated by the bank. I can understand how you are so stressed over this since you understood that you took out insurance to cover you in the event of losing your job and then find out that they will not pay out. This policy only covers you for 12 repayments.

As you purchased this insurance from the bank you should ask them in writing why you are not covered as Payment Protection Insurance should cover you for Redundancy. If you are not satisfied with the response you should make a complaint in writing and if not sorted by the bank you then make a complaint to the Ombudsman. You should also contact Citizens Advice if you need help.

Regarding the letter you sent to the bank I think I would wait for them to contact you again.

Pablo Sanchez

Trish56 wrote: »

Regarding the letter you sent to the bank I think I would wait for them to contact you again.

Thats bad advice, always try and deal with the bank, it will be easier for you in the long run. Better to come to an agreement/arrangement rather than burying your head in the sand and hoping it will all go away.