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    CU won't accept a lump-sum in full settlement of a guaranteed loan

    Hi Elcato, They made an offer to the CU for the €23k. CU said they would accept that and open a new loan for the remaining €8k. No flexibility other than that. Agree the CU seem to be trying to squeeze as much as they can get (I suppose that's their job). The partner is involved as they wish to...
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    CU won't accept a lump-sum in full settlement of a guaranteed loan

    Hi Brendan, thanks for the reply. Both the borrower and partner own a house together (in negative equity of about €70k). A mortgage reschedule has been arranged and full repayments are being made. In relation to the CU loan, the borrowers mother is a guarantor on the loan and she has been...
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    CU won't accept a lump-sum in full settlement of a guaranteed loan

    Hi, Apologies in advance for a long post and I hope this makes sense. Borrower had a credit union loan granted in 2007 over a term of 10 years (120 monthly repayments). Loan amount was for circa €50k. As per initial Credit agreement total amount repayable was: Loan amount ~50K plus cost...
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