Defaulted on bank loan

M

Mariamc

Registered User
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Just over two years ago I stopped paying back a bank of Ireland loan.
There was around 1700 left on original loan of 8000. Just stopped paying and ignored correspondence.
How do I go about paying this back now? Do I contact the bank or is there another way to find out who they would have passed it on too?
 
Do you have the letters they sent you?
The debt handling might have been given to one of the debt collection agencies such as BCW, Stubbs,Cabot or Crossskerrys.
If it has,you can come to a debt repayment schedule with them,or pay the total in full.
Please note,if you are doing this to repair your credit rating,that the debt is only wiped from your ICB report 5 years after the loan is repaid.So if you agree to say 50 a month,you would still have a bad credit report for another 94 months.(might not apply to you,but might apply to someone else reading this).
If all the correspondence is still from some debt recovery division of Bank of Ireland...ring them!They'd be only too delighted to clear another bad loan off their books.
 
Thank you for your replies. I don’t have the letters and won’t be able to get them unfortunately. I understand about credit rating now and I know I won’t be able to get credit again but tbh I just want it cleared so it’s not hanging over my head anymore
 
Was there a problem with bank and loan -or was it your side. I know someone who had ongoing issues with the a bank’s adminstratiion of Loan. They ended up paying it off to get rid of them. But they sent complaints to Data Protection commissioner and financial services ombudsman
 
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