Financial advice needed please

daisy100

My brother has got himself in to a tricky situation, he is a self employed trades man and has obviously been finding it tough over the last 2 years, he had a loan with his local credit union and went in to them last year to basically reduce his loan, they provided a budgeting service, they came up with a payment plan to include a payment off his loan, and a payment off his credit card and his ESB bill. It did however take a while to set up as the credit union messsed it up a little at the start and he ended up with arrears on his credit card, it eventually all got sorted.
His pridicament now is that his situation has slightly improved, although he still has a large credit card bill of which the payments are crippling him, last week he rang the credit union to see if he could go back to paying the full amount of his original loan and also pay off his credit card, but they are refusing to even talk to him, i should add he never missed a payment in the last 2 years. They have told him that they no longer have their budgeting service, but they still refuse to return his calls, he just wants to go in and talk to someone and see if they can come up with a new arrangement.
He is at the end of his tether and is considering money lenders at this stage, i would appreciate any advice please, thank you.

sarahlulu

If he now wants to pay more than he had previously arranged, then he can do that without first informing the credit union. Unless I have misunderstand your post, he doesn't need to contact them at all, although it is extremely bad form that they won't return his calls.

daisy100

Well he really does need to go in and work out a new payment plan, because he has a direct debit with them. They are just being extremley un co -operative with him, He is extremley stressed and worried about the situation, he doesnt know what to do next.

Drumpot

OK, just let me make sure I have this straight. .

Your brother had a loan with the credit union and went to them last year to reduce the monthly cost of the loan ?

They came up with a budget for his Loan, his credit cards and his ESB.

He phoned up to try to go back to paying whatever he was originally paying on his credit union loan and to pay off his credit cards and they wont return his calls ?

This sounds very odd . . If the payments are crippling him, why would he want to increase them? Unless of course he is asking the Credit Union for a top up on his loan to clear his credit card bills ?

Either way I would go into the credit union if it was me. Its harder to turn people away face to face . . Demand to speak to the manager, demand an appointment if they keep fobbing you off (he cant be busy forever!).

I would try MABS before going to a money lender . . http://www.mabs.ie/

bills

daisy100 wrote: »

My brother has got himself in to a tricky situation, he is a self employed trades man and has obviously been finding it tough over the last 2 years, he had a loan with his local credit union and went in to them last year to basically reduce his loan, they provided a budgeting service, they came up with a payment plan to include a payment off his loan, and a payment off his credit card and his ESB bill. It did however take a while to set up as the credit union messsed it up a little at the start and he ended up with arrears on his credit card, it eventually all got sorted.
His pridicament now is that his situation has slightly improved, although he still has a large credit card bill of which the payments are crippling him, last week he rang the credit union to see if he could go back to paying the full amount of his original loan and also pay off his credit card, but they are refusing to even talk to him, i should add he never missed a payment in the last 2 years. They have told him that they no longer have their budgeting service, but they still refuse to return his calls, he just wants to go in and talk to someone and see if they can come up with a new arrangement.
He is at the end of his tether and is considering money lenders at this stage, i would appreciate any advice please, thank you.

Why is he considering money lenders- Is he looking for a new Loan???

I really cant see any credit union turning someone away for paying extra money. He can just call in & pay extra or else amend his direct debit.

Now, if he is looking to pay extra & get a loan, thats a different story.

If his credit card payments are crippling him, how is he able to afford to increase his direct debit??