Advice on settling a Personal Loan

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Eddiecb

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Im looking for some help and Advice on a Loan i have with GE Money. At the moment i only have €2300 left to pay and i know thats not alot to some people, but its a killer to me. Im not working and had to move out of my parents home so i rent now.

Back to the Question. i want to talk to them about a settlement i have €1000 that a family member is willing to give me to help clear the loan. would they accept this as a settlement. I have never missed a payment to them until now as surviving on Social welfare is very hard. This is really depressing me to ask people for money and help as i have never had to do it.

any advice on this would be appreciated .... Thanks
 
Best I can suggest is ask them the question. My guess is that it's unlikely if your payments are up to date and you're offering less than 50%.

They would be more likely to accept if the account is in arrears and the amount is greater than 50% in my experience, but again ask them and see what they say.
 
I would advise not to give them €1,000 of your family members money. Don't tell them it is there. They will simply take the money and look for the rest.

Apart from that what discussions have you had with them
 
Eddiecb said:
Im looking for some help and Advice on a Loan i have with GE Money. At the moment i only have €2300 left to pay and i know thats not alot to some people, but its a killer to me. Im not working and had to move out of my parents home so i rent now.

Back to the Question. i want to talk to them about a settlement i have €1000 that a family member is willing to give me to help clear the loan. would they accept this as a settlement. I have never missed a payment to them until now as surviving on Social welfare is very hard. This is really depressing me to ask people for money and help as i have never had to do it.

any advice on this would be appreciated .... Thanks
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If you tell them and send them evidence that you are on Welfare they will accept a very reduced payment. At this stage it is unlikely they will acceopt 1,000 in full and final.
Also , since it is Ge . Have you Payment protection on the loan ?. If you have . 1. You can claim for out of work.or 2. Should you have paid ppi in the 1st place ?.
Let me know ,
Thanks .
 
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