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Debt

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  • 16-05-2022 9:22pm
    #1
    kamay88
    Registered Users Posts: 9 ✭


    Hi

    Just wondering if anyone has ever received a letter of arrears on debt?

    I received one today saying I have 7 days to pay the debt in it's entirety.

    Just wondering what to do next?

    I have been paying the debt with a small but extra

    Tagged:


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    #2
    Ginger83
    Registered Users Posts: 3,509 ✭✭✭Ginger83


    https://www.boards.ie/discussion/2058246130/debt

    Who is the debt with and who is the letter from?



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    #3
    kamay88
    Registered Users Posts: 9 ✭kamay88


    Belgard solicitors?



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    #4
    phormium
    Registered Users Posts: 3,340 ✭✭✭phormium


    Give MABS helpline a call



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    #5
    kamay88
    Registered Users Posts: 9 ✭kamay88


    I will give them a call first thing in the morning.


    Just wondering if anyone has had similar letters and if it's possible to just pay as I have been.



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    #6
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,285 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119072781#Comment_119072781

    Mod: You will not get any kind of meaningful comments unless you provide meaningful information.

    • What is the nature of the debt: mortgage, loan, credit card?
    • Who is it with?
    • Have you engaged with the lender and agreed a payment plan
    • Are you in arrears
    • etc.


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    #7
    kamay88
    Registered Users Posts: 9 ✭kamay88


    It is for a credit union loan that is in arrears.

    I have still been paying the credit union loan to the credit union.


    I have not engaged with belgard solicitors yet as I only received the letter yesterday



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    #8
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,285 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/119073567#Comment_119073567

    You don't get to the point where you receive a letter out of the blue for a matter like this.... there will have been previous correspondence on this and in the absence of any information from you, we have to assume you are in arrears, have not abided by the loan agreement you signed up to nor engaged with the CU to seek a new agreement.

    Start by talking to MABS if there is sill time. If it is still possible and it may not be, then engage with the CU and seek an agreement that is more realistic.



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    #9
    kamay88
    Registered Users Posts: 9 ✭kamay88


    Yeah it was for a loan that is in arrears but I have been back paying the full amount for over a year with extra.

    I also hadn't received any other letters, calls or emails from them, which is why I was looking for information.

    I was onto MABS they said they would deal with it for me.


    However I was anxious so rang the solicitors and they just wanted to put a payment plan in place so I'm paying the same now what I've been paying the last year. The money is also going to the credit union not the solicitors


    There was no mention of demanding the full amount like the letter said.

    Just an update for if anyone else has received a similar letters



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    #10
    coylemj
    Registered Users Posts: 25,438 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/119078558#Comment_119078558

    When you say you've been paying the 'full amount for over a year with extra', is that an arrangement you came to with the CU in order to get back on track? Or are you just paying the original monthly amount with an extra few euros (as decided by you) thrown in each month?

    It's possible that there are arrears and the CU has come to the conclusion that your payments are not sufficient to clear the debt. Logically, that is the only reason whay they would hand the matter over to Belgard. Because if your current payments are sufficient to clear the loan, it would make no commercial sense to get a debt collector involved.

    Can you answer a straight question: after you fell into arrears, did you agree a new payment schedule with the CU to clear the loan, including arrears? If yes, have you stuck to the schedule and missed no payments?



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