Repaying Loans and Loans advice please

G

Gracie12

Guest
Hi

I am wondering if anyone can advise me.
I am currently living and working in the UK but repaying a substanial amount of debt in Ireland built from returning to college in '09/10.

I am paying off debt to one Credit Union 120 euro a month (amount owed to date (7,900)
One bank of 31 euro a month
And I am paying off one credit card 45 euro a month (1200)
Additionally I am repaying a Uk student loan of 110 pounds a month. (3,000)My bank in Ireland has begun sending nasty letters declaring that my account is in arrears and that my debt will be past on to a debt collectors unless I up my payment. At the moment I am struggling to pay what I am. With rent, loans and travel costs to work here eating up over half my wages. I have continually paid my bank the sum of 31 euro for the last two years for a debt of 3,500 which now stands at 3100. I know it seems like a nominal amount compared to others out there, but I would deeply appreciate any advice as the continual harressment is very stressful.
Can the bank threathen me in this way? Particularly as I am already paying them an amount every month?

Thanks in advance
 
declare yourself bankrupt in the uk. i was mentioned here a few weeks ago and it is definitly possible takes 12 months for it to happen in the uk compared to 12 years here in Coo Coo land, the land of fakes and fairies!
 
Repaying loans and loans advise please

I am trying to avoid stress but thanks
Marti
 
Is the mindset of the Irish people changing for the worst .

Normally in the above circumstances , one would be advised to fill in the 'money makeover ' form and from there help would follow .
 
I know life is short, but I would like to add that at some stage in the future I would like to live in Ireland again without having run away from the financial difficulties I got myself into. The nature of my job here means I can't be declared bankrupt and as I have good credit status over here, if anything where to happen that I needed money asap (fingers crossed it doesn't) it means I have an option. I don't have a wealthy family to turn to or inherit from so being bailed out or running away from debt to gain later is not my intention.

Can anyone please advise as to what would be the best way re-structure everything and whether or not my own Irish bank can declare I am in arrears when I have consistently paid every month a certain agreed amount, but now, when they want more, they threaten me weekly with my loan being turned over to a debt collector?
Do I have any options
Thanks again in advance
 
Gracie, well done for trying to tackle your debts. After you do the money makeover you'll hopefully get some good advice.

Don't let the banks demands get to you. You must sit down and write a letter back to the bank outlining your circumstances and include an income and expenditure sheet. You can also ask the bank to stop applying interest to the loan, if you don't ask you won't get. You can ask them to stop harrassing you, write that their letters are really upsetting you. In Ireland we have MABS, they must have something similar in the UK, an agency that will negotiate on your behalf with creditors. The agencies have long standing arrangements with banks and credit card companies to help people like you. Do not speak to the bank on the telephone, always correspond in writing by registered post.
 
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