M
Mixxa
Guest
A few years ago, I ran into severe financial difficulties and ended up owing money to a number of creditors - one of whom was my local credit union. In the end, I sold my house to pay off my bills.
Three years down the road, I'm living in rented accommodation and free of debt, but with a bad credit history. I go to my friendly Credit Union and apply for a loan of €2,000 to buy a secondhand van for work. They inform me that my previous loan was "written off", even though I repaid it in full as soon as I got the money from the sale of my house. According to Credit Union rules, this means I may never again be approved for a loan. Even the ******* banks will give you a fair hearing after five years.
I did run into arrears with the Credit Union, but it never reached the stage of court action and I repaid my debt in full. I'm just sorry I didn't keep the sale of the house to myself and throw them €20 a month for the next ten years.
Lesson learned: Credit Unions thrive on a holier than thou attitude, but are quite happy to treat their members like **** when it suits. With friends like these, we don't need enemies.
Three years down the road, I'm living in rented accommodation and free of debt, but with a bad credit history. I go to my friendly Credit Union and apply for a loan of €2,000 to buy a secondhand van for work. They inform me that my previous loan was "written off", even though I repaid it in full as soon as I got the money from the sale of my house. According to Credit Union rules, this means I may never again be approved for a loan. Even the ******* banks will give you a fair hearing after five years.
I did run into arrears with the Credit Union, but it never reached the stage of court action and I repaid my debt in full. I'm just sorry I didn't keep the sale of the house to myself and throw them €20 a month for the next ten years.
Lesson learned: Credit Unions thrive on a holier than thou attitude, but are quite happy to treat their members like **** when it suits. With friends like these, we don't need enemies.