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Loan Freeze

  • 22-09-2009 2:36pm
    #1
    LongAA
    Closed Accounts Posts: 97 ✭✭


    Hi,

    I am just wondering if anyone has any experience around the freezing of a loan from the bank or the credit union. The reason i am asking this is that i am thinking of going traveling for 12-18 months but the only thing stopping me is loan repayments. would it be possible to pay just the interest for this amount of time?


Comments

  • #2
    Lexus1976
    Closed Accounts Posts: 702 ✭✭✭Lexus1976


    LongAA wrote: »
    Hi,

    I am just wondering if anyone has any experience around the freezing of a loan from the bank or the credit union. The reason i am asking this is that i am thinking of going traveling for 12-18 months but the only thing stopping me is loan repayments. would it be possible to pay just the interest for this amount of time?

    Sure ask them for a moratorium or you can request they take a look at restructuring your loan.


  • #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    LongAA wrote: »
    Hi,

    I am just wondering if anyone has any experience around the freezing of a loan from the bank or the credit union. The reason i am asking this is that i am thinking of going traveling for 12-18 months but the only thing stopping me is loan repayments. would it be possible to pay just the interest for this amount of time?

    I highly doubt they'll look at a payment freeze or a restructure if it's just so you can go travelling. Whatever about if it was a hardship case, but in this instance I'd say they'll tell you no. Give your branch a call and see if they can do anything for you.


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