Search results

Bumping this thread with regard to the new ICB format which takes effect in January 2018. What effect will this cu loan being written off have on the borrowers ability to borrow again ( doesn't intend to borrow but just in case) in respect of the new ICB rules? Will it prevent the borower from...

Just checked with my friend. Mortgage taken out end of June 06 on tracker and fixed later on in 06. Never offered tracker back when fixed rate expired. My apologies i thought initially it was pre 06 drawdown.

Yes it was taken out before 2006.

Oh wow they will be thrilled with that news. Is there anyone they can contact in the bank or should they just wait for a letter?

As far as I know they were on a tracker originally and fixed in 06 but were never offered it back. Any ideas what they should do now?

They were on SVR of 3.4%. When they checked mortgage account on online banking it says new lending rate 1.25%. Payment has reduced by 150e

Posting for a friend: AIB mortgage repayment has reduced this month but there has been no correspondence from AIB. Could this be an error? Has anyone else experienced this?

Monbretia - the scenario which you depicted about good people falling on hard times is exactly what has happened to the borrower here. Pre recession they were way ahead with their cu loan and were an excellent cu customer. However 7 years of being hit sereverly by the recession and unfortunately...

Thanks for all the replies and various viewpoints. Just to clarify borrower doesnt intend borrowing again (ever if they can help it!) but is very worried that should an emergency occur this loan /bad debt will prevent them getting access to emergency funds. As quoted above the lack of...

Just to add the arrears are a result of borrower being hit extremely hard by the recession and not a result of just "not bothering to repay loan". Oftentimes borrower paid what they could whilst on social welfare. But borrower did keep in contact with the credit union and got reduced payments...

Thanks for replies. Borrowers concern is that because "bad debt lodgment" is showing up every time a repayment is made that this will go against them or that there will be a bad debt registered against them. Borrower doesnt intend borrowing again until this loan is cleared but in the case of an...

Credit union loan (20k) is in serious arrears (12k)but having agreed a reduced repayment and the borrower is meeting this repayment. However the credit union stopped charging interest without being asked and repayments now have a description of "bad debt lodgment". Credit union maintain they...

I am going to go to ombudsman next. Any advice

I have received final response letter offering tracker of ecb plus 3.67 which I won't be accepting. Any advice on where to go from here?

Can anyone help me with sample wording to complain to the bank please?

@Brendan Burgess : do you have any sample wording i could follow? I know i should have followed up in 2014 but there was alot of other stuff happening at the time and it got inadvertently left aside. Do you think i have a chance of getting tracker back?

Brief summary of my situation: Mortgage 1: drawn in 2002 on a variable rate Mortgage 2( top-up): drawn in 2004 on variable rate Mortgage 3 (top-up): drawn in 2006 on tracker rate The three mortgages were amalgamated into one a/c and one repayment in 2006 on a 3year fixed rate but no new...