We're Here To Help
Are you worried about meeting your loan repayments?
If you are experiencing difﬁculty in maintaining your contractual repayments due to some unforeseen circumstances we would ask that you contact the credit union immediately at 0818 222 919 (press 4 for Credit Control) or email email@example.com.
Alternatively, you can complete our Loan Flexibility Request Form below. We will then contact you to address your situation and work through your options.
Making prompt and timely contact with us in such circumstances is very important as missed or irregular loan repayments may cause your account to fall into arrears and may limit your ability to access credit in the future. Members experiencing such difficulties will be treated sympathetically and every effort will be made to come to a mutually agreeable resolution.
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Financial Difficulties FAQs
Have a question? See if it's answered below in our Frequently Asked Questions.
We understand from time to time, members may find themselves in financial difficulty. If you are having difficulty making repayments on your loan, please get in touch and one of our credit control team would be happy to talk you through the options available to you.
If you don’t or can’t repay your loan per the original loan agreement this will affect your credit rating. We are legally required to submit information on our loans to the Central Credit Register (CCR) each month. Arrears on your loan will affect your future ability to access credit from the credit union and other financial institutions.
The credit union recommends that you make contact with us at the earliest possible stage to advise us of any changes in your circumstances or any temporary difficulties you might be experiencing. The credit union is flexible and is willing to work with you to help you through a difficult period.
Our preference is to work closely with members in difficulty to resolve arrears. Where the credit union cannot make contact with a member whose loan is in arrears or where the member will not work with us, the credit union will use our resources to recover the funds lent.
We are always happy to hear that our members are getting back on their feet. Please feel free to call us on 0818 222 919 (press 4 for Credit Control team) to discuss your options. We can help you find the best way forward for you. This may include restructuring the loan to reduce the weekly or monthly repayments to a level that you can afford.
The simplest way of clearing down the arrears on your loan is to pay a little bit more every week. Contact our Credit Control Team, on 0818 222 919, who will agree a repayment plan with you to reduce your arrears each week.
Yes, absolutely. There is no reason why you can’t return to borrowing in the future if you can demonstrate that you have the ability to repay your loan. The first step you must take is to repair your credit rating with the credit union.