Asking to skip a loan repayment

moneyquestion

I took out a credit union loan to finance studies. As well as keeping up the payments, I've sent money to the credit union whenever I could. This has placed me a few payments ahead.

I was laid off work temporarily in March, but I've been asked to return full-time from next week. I'm delighted about this but it means that my finances will be tight next month. I changed from being paid monthly to receiving the pandemic payment weekly, and now I won't be paid until the end of July.

In this situation, is it acceptable to ask the credit union to skip a monthly direct debit? It wouldn't put my loan account into arrears.

Calahonda52

If you are ahead of the payment schedule then just pen then a letter along the lines of your text and ask then not to run the DD as if there are not sufficient funds you may get hit with a 10 or 12 euro fee

pillphil

Shouldn't be a problem, I've done it before with credit union loans. Just call them before it gets too close to the next payment date to cancel the payment.