I have a small loan with just over 1,000 Euro's left to pay off. I was laid off and the insurance / payment protection was paying it. Now, I have left Ireland and the insurance has stopped. Should they still be paying it? I have been paying it on time each month since the insurance stopped but I am not working full time and can't afford the repayments.
I have a small loan with just over 1,000 Euro's left to pay off. I was laid off and the insurance / payment protection was paying it. Now, I have left Ireland and the insurance has stopped. Should they still be paying it? I have been paying it on time each month since the insurance stopped but I am not working full time and can't afford the repayments.
First off, call the insurance company & find out why they stopped paying it - sometimes these policies only cover repayments for 12 months.
Then call the bank as almadden suggested. Ask them if they can waive the interest & re-schedule repayments. No point getting a bad credit rating for a loan that's almost paid off.
First off, call the insurance company & find out why they stopped paying it - sometimes these policies only cover repayments for 12 months.
Then call the bank as almadden suggested. Ask them if they can waive the interest & re-schedule repayments. No point getting a bad credit rating for a loan that's almost paid off.