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Credit Union

Ath trasna · 2016-06-09 12:46:15

Hi all, looking to pull from peoples experience here. I have an existing CU Loan that I have been paying off for a couple of years. Does anyone know if it would be possible to "top up" the loan back to the original amount that I borrowed or does the loan balance have to be cleared and start over with a fresh loan? Thanks

09-06-2016 12:46pm

#1

Ath trasna

Registered Users, Registered Users 2 Posts: 82 ✭✭

Join Date: May 2013

Posts: 67

Hi all, looking to pull from peoples experience here.

I have an existing CU Loan that I have been paying off for a couple of years. Does anyone know if it would be possible to "top up" the loan back to the original amount that I borrowed or does the loan balance have to be cleared and start over with a fresh loan?

Thanks

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Comments

#2 09-06-2016 2:58pm

Boardnashea

Registered Users, Registered Users 2 Posts: 895 ✭✭✭

Join Date: August 2007

Posts: 868

Talk to your CU. Each may have its own T & Cs but should be fine to top up a loan if it is all in order.

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#3 09-06-2016 5:43pm

Toots

Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,978 Admin ✭✭✭✭✭

Join Date: October 2007

Posts: 16168

It'd probably depend on how much the outstanding balance is. If you've been making all your repayments on time then it couldn't hurt to ask. I topped up a CU loan after about 6 months because we had an unexpected expense (car trouble) and when we explained the circumstances we got the top up without any trouble.

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