blinkbelle
Registered User
- Messages
- 143
blinkbelle said:I dont work but I get roughly 1100 per month social welfare etc. My partner works and is on 23000 a yr plus commission. We have just bought a house.
lff12 said:Most credit unions are still outside the ICB.
I can tell you two stories which should warm the cockles of your heart.
Credit Unions generally are a lot more helpful when it comes to loans than most banks. A family member of mine has a horrific credit record, with years of defaults and for him, arrears are normal and expected (he seems to have subscribed to the George Hook school of business practice over the years). He should be retired, but because of years of unwise borrowing he he still works in a minimum wage job because his mortgage isn't paid off (and again a few months behind payments usually). He owed a five figure sum to a former supplier (and unfortunately he was a sole trader and so had unlimited liability) and was unable to borrow to pay it off at the rate the supplier had agreed. No bank would touch him. He went eventually to the Credit Union and discussed it with the credit committee and they agreed to give him enough to clear his arrears and pay off his supplier. Even though it will cost him a bit more in interest, he is now in a position to be able to make ends meet every month and now is up to date on all payments. While the well-intentioned willl warm people in debt not to borrow, they won't warn you about the usurious rates of interest and surcharges the banks will levy on you if you don't have a loan agreement which in some cases may be the lesser of two evils.
The happy ending was that the guy got the loan and his former supplier dropped the pending court action. And he still has his house.
In a second case, a friend who was unemployed rather unwisely drove her elderly Dad's car whilst uninsured and caused a pretty bad accident. She was convicted for dangerous driving, banned for a year and fined €1,000 which obviously she was unable to pay. She did however have a chat with the credit committee and they arranged a loan for her. She paid it off, eventually made a good recovery and eventually went back to work.
Now while a lot of people would find both of these people morally unsavoury as both created the situations in which they found themselves, the credit unions were wiling to be practical.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?