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Top up Credit union loan

  • 01-03-2016 1:03pm
    #1
    ak4
    Registered Users Posts: 220 ✭✭


    I have a 4000 car loan with the credit union with only 1000 left to pay on it. I have 350 in savings.

    I went in today looking for a top up of 500 euro , but before I could tell her the about I needed she was making me an appointment. I thought this amount could be dealt with over the counter?
    I don't want to have to show them bank statements and all for just 500 euro.

    Do you think I should just cancel my appointment and tell them all I need is 500 ?
    I don't want to waste their time either?


Comments

  • #2
    Dodge
    Registered Users, Registered Users 2 Posts: 10,303 ✭✭✭✭Dodge


    Each CU has their own criteria. If they tell you you need an appointment, then you need an appointment. if they say you need bank statements, then you need bank statements. The days of CU loans without supporting docs are long gone I'd imagine.

    Your new loan, if issued, won't be just for 500, it'll be for 1,500 on their system (your outstanding balance plus the new amount).


  • #3
    Flatzie_poo
    Registered Users, Registered Users 2 Posts: 562 ✭✭✭Flatzie_poo


    ak4 wrote: »
    I have a 4000 car loan with the credit union with only 1000 left to pay on it. I have 350 in savings.

    I went in today looking for a top up of 500 euro , but before I could tell her the about I needed she was making me an appointment. I thought this amount could be dealt with over the counter?
    I don't want to have to show them bank statements and all for just 500 euro.

    Do you think I should just cancel my appointment and tell them all I need is 500 ?
    I don't want to waste their time either?

    Why don't you want to show them bank statements?

    If you need the €500, attend the appointment with statements, if you don't need it or simply won't show bank statements then cancel.


  • #4
    ak4
    Registered Users Posts: 220 ✭✭ak4


    Flatzie_poo wrote: »
    Why don't you want to show them bank statements?

    If you need the €500, attend the appointment with statements, if you don't need it or simply won't show bank statements then cancel.

    It's not that I don't want to show them it's just I thought under 1000 euro loans could be dealt with over the counter.


  • #5
    Spocker
    Moderators Posts: 6,864 ✭✭✭Spocker


    ak4 wrote: »
    It's not that I don't want to show them it's just I thought under 1000 euro loans could be dealt with over the counter.

    It depends on the Credit Union. Remember, you're not just taking a €500 loan, you're taking your existing loan of €1000, and adding €500 on top of that, making the new loan €1500.

    You can expect to be asked to increase your repayment amount too


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