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bad debts

  • 08-01-2014 12:10am
    #1
    coco boo
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi, just wondering if anyone could advise me on this, l was advanced a personal loan from Bank of Ireland in Nov 06, amount 15,000 plus PPI of 1700. I was made redundant in may 08 and the PPI paid the term loan for a year but I had to reconstruct it across a longer period after this as I wasn't able to afford the payments. To date I have paid back roughly 26,000 and never missed a payment. There is still a balance of 5,500 left to pay plus the bank will take their quarterly interest rising the amount back up again so in reality I'm paying interest on interest. I'm a single parent and have barely nothing left after bills are paid each week. Even if I could get the quarterly interest stopped I would be a bit happier. I'll end up paying back around double what I borrowed. I would have been better off going to a loan shark.


Comments

  • #2
    Bank of Ireland: Alison
    Closed Accounts Posts: 1,060 ✭✭✭Bank of Ireland: Alison


    Hi coco boo
     
    Thank you for contacting us on Boards.
     
    To fully investigate this query for you, it will be best to contact a Customer Advisor within the branch the loan was taken out with. They will have full access to the initial loan application and also a detailed account of the lending history. The Advisor can answer all your lending queries relating to the PPI attached to the loan.
     
    Contact details can be found here
     
    If you have any further banking queries, please do not hesitate to contact us again.
     
    Thanks

    Alison


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