# Wasting time applying?



## Molzerk (17 Jul 2018)

Hi, I have a loan but it also has arrears on it-about 1000. 
Am I wasting my time applying for a top up?
I'm in a better position now, have a full time, permanent contract and set up a standing order etc...
Thanks


----------



## Bronte (17 Jul 2018)

Oh dear.

What do you want the money for. Can you not save for the amount you need.


----------



## Molzerk (17 Jul 2018)

I could do with it quicker than I can save for it...Thanks for reply


----------



## Vanessa (17 Jul 2018)

This is a matter for discussion with the Credit Union. Bring in evidence of your new financial position. They are there to help their members and not create obstacles like the main financial institutions.


----------



## Molzerk (17 Jul 2018)

Thank you Vanessa and Bronte. I've applied online so I wonder do they ring me then?


----------



## Bronte (17 Jul 2018)

Vanessa said:


> This is a matter for discussion with the Credit Union. Bring in evidence of your new financial position. They are there to help their members and not create obstacles like the main financial institutions.



While this is true it's not a good idea to give people in arrears more money.  Unless for a very good reason. 

The credit union is about only borrowing but saving too and not borrowing unwisely.  Not saying that is the case here as we were given scant details.


----------



## Bronte (17 Jul 2018)

Molzerk said:


> Thank you Vanessa and Bronte. I've applied online so I wonder do they ring me then?



Presumably they discuss the matter and then will get back to you.  When did you apply?


----------



## Molzerk (17 Jul 2018)

I applied Friday evening. I know what you mean about not giving people in arrears more but I'm not a risk. 
I don't really want to go into any more details but thanks


----------



## 24601 (17 Jul 2018)

Molzerk said:


> I applied Friday evening. I know what you mean about not giving people in arrears more *but I'm not a risk*.



Well that's just not true, you have arrears of 1000 and need a top up loan faster than you can save for, so you're a heightened credit risk regardless of your change in circumstances. That said, depending on how you've dealt with the CU and your arrears, and as long as you've played ball with them, it might be looked at. Very often they have a policy that the arrears must be cleared prior to further credit being advanced. If your loan has been formally rescheduled you can forget about it for the moment but unless you've been taking the mick the arrears would appear too small for that. 

If you're in the credit control process you're better off dropping in and dealing with them face to face as the starting position will be to refuse the loan and you'll not improve it by applying online.


----------



## Molzerk (17 Jul 2018)

Thanks, I see what you mean...I'm back paying the original repayments with some extra for the arrears


----------



## Molzerk (17 Jul 2018)

Thanks I see what you mean...I'm paying my original payments with extra to work on arrears. And I kept in touch with them throughout, it was a case of finishing a degree then waiting to start new job with a few weeks in hand before I got paid


----------



## DeeKie (18 Jul 2018)

Follow up with them and offer evidence of your new job. Good luck!


----------



## Molzerk (18 Jul 2018)

Thank you all


----------



## RETIRED2017 (18 Jul 2018)

Molzerk said:


> Thank you all


Do you have credit union shares backing up existing loan if so what % of loan to shares have you got,


----------

