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Credit union loan ?

  • 09-09-2018 4:12pm
    #1
    house45
    Registered Users, Registered Users 2 Posts: 290 ✭✭


    Hi there just looking a bit of general advice please ,I joined the local credit union in Mach this year, we have being saving €50 per week with them and had to ask for a loan of €2500 in June and got it no problem, we where having car trouble and needed repairs done , we have never missed a week of repaying the loan and are ment to be paying €25 but we are paying an extra €25 so that’s €50 of the loan and an additional €50 per week in to savings, there is €1800 outstanding on the loan and we have €1100 in savings, my question is if we cleared the balance of the loan ie €1800 could we apply straight away for a loan of €6000 and would we get it ?? Any advice please ?? Thanks


Comments

  • #2
    Aint Eazy Being Cheezy
    Registered Users, Registered Users 2 Posts: 4,631 ✭✭✭Aint Eazy Being Cheezy


    I’d be surprised if you didn’t. Another option is just ask to have the loan topped up, instead of repaying the €1800 and asking for a loan of €6000 you could just ask for a €4200 topup. Go in and speak to them, they’re very approachable.


  • #3
    Enright
    Registered Users, Registered Users 2 Posts: 944 ✭✭✭Enright


    Are you clearing it from external source or are you leaving the 1100 saving in?

    In short the answer to your question is YES, if you clear it you can apply, whether you get it will depend on the individual credit unions lending policies, your personal financial situation, ICB (what other loans you have) and your ability to repay the loan.

    Go in and talk to them


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