M
michaelp
Guest
Hello all just looking for some advice here, story goes like this: About 5 years ago i borrowed from aib finance and leasing to buy a car for 19000 (off the top of my head i dont know how much it cost me in total the car cost 19000 so obviously i was paying back more than this), all was going well with repayments of 400 per month.
Recently though i lost my job as did the wife and fell behind with payments. I am working again in a new job with a 50% pay cut. Some time last week i had a voice mail left for me from someone in aib regarding the arrears. I rang him straight away and he told me that there was still 3900 left to pay.
He was a nice guy nothing threatening or demanding just asked how could i repay the money, so i said i would try to pay 50 to 100 per week and he seemed happy with this and sent out a lodgement book to me.
That was last week and since then i have paid 150 off the loan and was managing ok. Now today i get a termination notice from aib saying that i have broken the terms of the agreement and should immediately return the car to them.
So wondering what to do next? Is this just an automated letter? Will they leave me alone so long as i keep up with repayments?
I am confident i will have this loan cleared within the year if they let me.
I know i should ring again but I'm wondering what to expect when i call, will they just demand the car back?
I'm sure there are people worse off than me and 3900 is not the end of the world but im afraid someone will just turn up some day and take the car which i really need (for work and also have a young baby)
Anyway sorry for the long post but i am worried about this.
Recently though i lost my job as did the wife and fell behind with payments. I am working again in a new job with a 50% pay cut. Some time last week i had a voice mail left for me from someone in aib regarding the arrears. I rang him straight away and he told me that there was still 3900 left to pay.
He was a nice guy nothing threatening or demanding just asked how could i repay the money, so i said i would try to pay 50 to 100 per week and he seemed happy with this and sent out a lodgement book to me.
That was last week and since then i have paid 150 off the loan and was managing ok. Now today i get a termination notice from aib saying that i have broken the terms of the agreement and should immediately return the car to them.
So wondering what to do next? Is this just an automated letter? Will they leave me alone so long as i keep up with repayments?
I am confident i will have this loan cleared within the year if they let me.
I know i should ring again but I'm wondering what to expect when i call, will they just demand the car back?
I'm sure there are people worse off than me and 3900 is not the end of the world but im afraid someone will just turn up some day and take the car which i really need (for work and also have a young baby)
Anyway sorry for the long post but i am worried about this.