extended payment break

[Charliefive]

Im going travelling for a year and have a 4grand balance on my Credit Union loan that i need to keep paying while im away. Moneys tight enough for the trip as it is so any break from this while im gone would be a relief.

When i was a student with AIB they offered me a loan when starting college that i wouldnt have to start paying until 12 months later but they dont offer this anymore.

Iv a great credit history. Are there any banks around that still offer an option like this? Would love to borrow the money to pay of credit union loan and not have to worry about the repayments until im back in Ireland and back at work.

... Am I kidding myself?

 

[CCOVICH]

... Am I kidding myself?

Pretty much I'd say. I'm not aware of lenders offering extended payment terms to anyone other than students. Having said that, the CU might be more flexible. If you don't ask........

Are you sure you won't be in financial difficulty when you get back from your travels?
- Existing loan
- Money owing from holiday (possible)
- No job for a time (possible)

 

[MsGinger]

Hi there,
I took out a CU loan when I went travelling a few years ago, I made arrangements with the CU to just deduct interest for the time I was gone and left enough money in my account to cover the interest payments, then made payments to the capital when I returned.

You should discuss it with your CU, most are quite helpful.