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Credit Union and Aib loan arrears

  • 20-06-2017 10:56pm
    #1
    ak4
    Registered Users Posts: 220 ✭✭


    So, I have got myself into arrears in both my Credit union loan and my Aib loan. I returned to full time college last September while working part-time too. I have only been able to pay my repayments sporadically since then, resulting in me owing €3000 to Aib which I haven’t made a payment since December. I owe €1700 on my Credit union loan and pay 60 euro back a week but have only been able to do this some weeks. Now I have got a court order from my credit union looking for the full amount to be repaid. I also need to sort my arrears out with AIB as I don’t want my credit rating effecting even more.

    Can someone please offer me advise here?


Comments

  • #2
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,283 ✭✭✭✭drunkmonkey


    Have you spoke with AIB or did you just default, they can park a loan for maybe a year which would give you some breathing room, you need to go speak with someone in you local branch and be straight up. I'd be more concerned about building back up that relationship.
    If you haven't a part time job get one, credit union and bank will like that.
    Talk to both tomorrow regardless.


  • #3
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    Don't bury your head in the sand. Talk to them and they will be fine if it looks like you are trying. The amounts are relatively small from their viewpoint.


  • #4
    alig123aileen
    Banned (with Prison Access) Posts: 117 ✭✭alig123aileen


    Please don't worry. Talk to your credit union and explain you are studying so your income will go up soon but in the meantime you can agree with the credit union what weekly amt you can afford. You need to agree an amount you can repay consistently though as if you missjust one payment they will be on high alert. Also you have two creditors each wants your money so make sure you can make an affordable payment to each. They may want you to complete a statement t of means showing your incoming and outgoing finances on same challenge them on their repayment suggestion if you feel you might not be able to pay it. Engage with them in an assertive constructive way. Happy to help you further if you need it as I have background in this. Good luck


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