credit union loan

galwaykev

I owe my local credit union nearly €14,000.
I cannot keep the original repayment plan as I am out of work. Via email they have offered me a repayment schedule over 5 years or 10 years. (last march)
I took the 10 year.
They contacted me in June see if I can up the payments, and again this week.
I can’t and want to stick to the agreement than we made in March.
I have a brother who guaranteed the loan. Can they go into his savings?
Have they a right to demand higher payments after the agreement we made in march?

How often are they allowed contact me?

Thanks in advance

wmpdd3

I would write to them stating that you are keeping to the 10 year plan and are not in a position to change this for the forseeable future. Tell them what your plan is....back to education etc. keep in contact.

I think they can contact you directly 3 times per month, but that may have changed recently.

roro2

Presuming it's a formal agreement with a clear 10-year term and without a clause that allows it to be reviewed, they cannot change it without your agreement and they can't take your brother's savings either. As above, write a brief formal letter confirming that you will maintain repayments per March's agreement and if contacted again, just refer them to this letter.