CU €5 charges per letter regarding non payment of arrears. Excessive?

G

gerrro

Guest
my credit union wrote me a letter regarding non payment of arrears and charges 5 euro to my account per letter they send, is that legit
 
EUR5 per letter. Pretty cheap! Imagine if they'd hired a solicitor !

What are your Credit Union's loan-arrears procedures and policies ?
 
I too thought the 5 euro was cheap. To avoid any further charges why not deal with them. Credit unions are generally easy to deal with if you're open and honest about your finances. They may help you to sort out your issues. Just go and talk to them.
 
€5 for a letter is pretty cheap by comparison with a bank. But yes, ring them and tell them you don't want to receive any more such letters.

Many moons ago, I got a phone call from my local Bank of Ireland branch manager asking me to come in and "review" my situation, and the next day found a £50 "consultation fee" debited to my loan account without so much as a whisper. Needless to say, I had it refunded immediately.
 
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