# Credit Union taking money from my shares to cover solicitor letter



## breakingbad (2 May 2012)

Hi 

Just wondering if this is legal?

Have fallen behind in my credit union loan payments (am paying less than I should per week)  This was not agreed with them - my fault as I had not approached them.

I received a solicitors letter on behalf of them saying I had not been paying agreed amount, 10 days to come to an agreement etc.

Have since been in contact and have restructured payments.

Got a letter today from the credit union confirming that they have taken €28 from my shares in order to cover the cost of the solicitor letter mentioned above. Is this legal? Can they do this? 

Thanks!


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## julius128 (4 May 2012)

They can setup Legal Fees balance on your account and add cost associated with legal actions taken against your loan. Hence they will transfer fund from your shares to zero-wise that balance.


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