Senor_Frog
Registered User
- Messages
- 4
Just a note onto what I said earlier if they do write off the loan.
Just what I was thinking. They won't write the loan off from the OP's perspective, they will sell it on to a collections agency for a heavy discount and write off the remainder as a bad debt on their side...but the collections agency will be even more hungry for their money than the bank.In addition to everything else you should be aware that you will still be liable to repay the loan even if they write it off. Most likely they will sell it on to a debt collection agency.
Don't worry, the banks idea of 28 days and everyone else's are 2 completely different things.....you have plenty of time, even if it does go to the debt collectors!My worry now is that the appointment may be after the 28 days ulster bank have given me as a deadline to come up with a solution.
I am going to write to Ulster bank collections department to put in writing my position and to state that I have contacted mabs, hopefully this will buy me some time....
I owe 3200 to ulster bank for a student loan.
I also owe a 650 overdraft
I have had the loan for three years.
interest only on the loan.
I missed a few payments back in sept-dec maybe a maximum of 5.
The terms of the loan have been up since December 2011 but I continued to pay interest only.
When I originally got the loan my father went as guarantor on it. He is now not in a position to do so.
as your loan is unsecured i would just pay a regular amount that you can afford to ulster bank.
I wouldn't ask them for permission about this and i would ignore their collections department completely from now on.
I doubt they'll bother going the debt collector or legal route if you keep paying them something.
And if they do go legal you'll have a payment history that the judge can't ignore.
And don't worry too much about the bank's huffing and puffing.
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