Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Restructuring a loan when unemployed

  • 07-04-2009 2:06pm
    #1
    Registered Users, Registered Users 2 Posts: 10,846 ✭✭✭✭


    I have been unemployed for 3 months now and i'd really like to restructure my loan to pay it off over a longer period. At the moment i'm making my €248 monthly repayments and I would like to half that if possible and then (hopefully) when I get a job, make extra payments into the loan account.

    Do you think the bank would go for this, or would they tell me 'no chance' because i'm unemployed?

    I haven't missed any payments and I have a good credit rating.


Comments

  • Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    I wouldn't rule it out. It depends quite a bit on the relationship you have with your bank etc.

    If you've a got a good record, and they can see that you are out of work they may be willing to come to an agreement. I'd speak to them and se what they can offer :)


  • Registered Users, Registered Users 2 Posts: 1,558 ✭✭✭kaiser sauze


    OK, you're unemployed, but your signature says otherwise. :pac:

    If you are upfront with your bank, it is likely that they will be amenable. Banks appreciate directness and honesty, especially in these times.

    I'm assuming that your loan is an unsecured one? This will, unfortunately, go against you as lenders are uneasy about giving leeway to borrowers. Ironically, if you had a mortgage, and a much larger loan, you would have a much stronger hand.

    You have only one way to find out and the fact that you have a good credit history is a huge plus.


  • Registered Users, Registered Users 2 Posts: 10,846 ✭✭✭✭eth0_


    OK, you're unemployed, but your signature says otherwise. :pac:

    That's a radio station I run (for free) for my friends.

    Cheers for the advice, I guess i'll give them a ring in a few weeks time if my circumstances haven't changed for the better.


Advertisement