# Arrears with credit union.



## MaximS (24 Apr 2019)

Hello there,
Have a quick question, I have a loan from credit union, I’m repaying weekly 94€ never missed a payment, I asked them to rise weekly payment up to 150€ a week instead of 94€, and now I saw that loan account is in arrears of 52.16 why so?


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## Murky18 (24 Apr 2019)

is it definitely arrears and not negative (-) arrears.  ?  is your contractual amount 94e pw?.  it could be a case that your loan is in technical arrears due to the way the Credit union calculate arrears or the payments you make have been past the due date.


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## MaximS (24 Apr 2019)

It’s like “arrears-52.16”
Yes I’m paying 150 per week,but 94€ for loan and 56€ for savings, but from this week I asked them to do 150€ just for loan to pay it quicker. And today I saw this arrears


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## beautfan (24 Apr 2019)

Is that a - minus symbol before 52? 

If so it will likely mean you are in a positive sisuation.


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## MaximS (24 Apr 2019)

Yes,it’s minus 52.16€
I know nothing about that, that’s why asking here


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## Easeler (25 Apr 2019)

Probably the best thing is to call them and see what's going on.


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## MaximS (25 Apr 2019)

Today arrears is -41.84€


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## Murky18 (25 Apr 2019)

the minus arrears means you are in advance of that amount, nothing to worry about.


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## MaximS (25 Apr 2019)

That’s grand , tthanks 
And what’s the advantage of that?


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## Elnino (25 Apr 2019)

It means that you will clear your loan earlier than the contract period in your credit agreement. If you go far enough ahead on your loan it also gives you flexibility to take a payment holiday for a while and pay interest only.


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## MaximS (25 Apr 2019)

Great, thank you for your help


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