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AIB found an old loan and keep piling on the money.

  • 26-03-2014 6:42pm
    #1
    rey8px2m7altcs
    Closed Accounts Posts: 97 ✭✭


    This is a thread created for my mother. Main questions are at the bottom.

    She opened an AIB account.
    She first bought the house in 2000 and has a smallish mortgage.

    2003
    She took out a €5000 loan when she had trouble with bills due to my father hurting his back. After they got through that 5k she went to the bank manager to ask what to do. He said simply take out another 5k and she did so.

    She paid off the first 5k and thought that her husband paid the other 5k. Instead he fked off somewhere. She never realised he never paid. She never received any mail about it either. I know most will say she ignored it but I saw all her mail, she has never received anything like that. In actuality she never received anything from AIB except for the mortgage and that was rare.

    Now that second 5k was unpaid so it has interest added and is now at €10k!

    She was only told recently about this and she did not know about the statute of limitations. She pays €80 a week off it. She is not making much headway.

    She has now received a letter saying they bumped that account from 10k up to 12k due to the arrears on her current account. She forgot she even had it as she has used ROI since 2003. They say the last known usage of the account was 2003. Now the interest and issue is with the overdraft.

    As an overdraft is a loan, is that not under the statute of limitations?

    Are they even allowed to simply add the money to an existing loan without even confirming with her?

    Is all hope lost with that old loan? She is paying money towards it so I guess that means she takes liability for it?


Comments

  • #2
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    Is the loan in her name or the husband's?
    Kace Quiet Golf wrote: »
    She paid off the first 5k and thought that her husband paid the other 5k. Instead he fked off somewhere. She never realised he never paid. She never received any mail about it either. I know most will say she ignored it but I saw all her mail, she has never received anything like that.
    That's very odd. A loan has been outstanding and not serviced for 11 years and there's been no correspondence? Ask AIB about that, they should have a record of anything sent.
    Kace Quiet Golf wrote: »
    She has now received a letter saying they bumped that account from 10k up to 12k due to the arrears on her current account.
    Can you please confirm that there's an unserviced overdraft on the current account since 2003? Who's name is on that and what correspondence has been received?


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