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Moving Country Bank Loan and CC Payment Advice

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  • 15-03-2011 1:28pm
    #1
    irishboy2011
    Closed Accounts Posts: 2 ✭


    Hey guys just looking for a bit of advice n help .

    We have a bank loan of 30,000 n a CC of 12,000 before anyone says any thing I know this isn't good . But no mortgage thank god . The deubt built up over the last few years years nothing lavis at all or any thing just day to day living and bad budgeting.

    My wife has lost her job and moved back to her home country with our little one and managed to get setup there including a job . Which is keeping them going there .

    I'm on my way soon but afraid what happens when I give up my job to move . Means that only one of us will be working for a while and won't be able to pay off all the bills .

    I went into our bank manager today to have a talk about what I might be able to do . I explained my situation and asked if there was any way the loan could be put on hold for a few months until I got on my feet in the new country and have two wages and could start paying off again .

    She told me that the bank couldn't do this . That the only thing i could really do was to apply for a new loan for the amount on a fixed term and I might not even get that becasue the bank don't like lending to poeple who are leaving the country .

    I asked if there was any thing else I could do to make sure we don't run into arrears and she said no . We would just have to pay off the loan some how . I'm not trying to run away from my responsibilities but they are giving me no options at all .

    I don't even know where to start with MBNA as to what I could arrange to pay off the CC . As just paying off the interest the last while and it'll take me a 100 years to pay that all off .

    I want to pay off all my deubts as we ran them up but don't want them to destroy us in the other country before we even started .

    Anyone with any advice would be great .


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    #2
    Rebel1977
    Registered Users Posts: 802 ✭✭✭Rebel1977


    You should do as manager says get a new loan but put in lower insalments off the loan, I am puzzled also as there is a way you can suspend payments on a loan such as a payment holiday you should check this the citizens advise bureau


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    #3
    irishboy2011
    Closed Accounts Posts: 2 ✭irishboy2011


    Wife has moved and i'm about to move so the manger siad she didn't think i would get a new loan as they don't like lending to people who are leving the country . Plus if i get a new loan for the same amount of money it will be at a higher rate of interest which means i will owe more than i already do .

    I just wanted to make sure i didn't defult on the loan and was able to keep up the payments . I have no job sorted in the new country yet and not sure how long it will take me to get one . I could be lucky and get one in a week or could take me months and don't have the moeny to cover the loan for months and live at the same time .


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