Now is the time to make a plan
Are you worried about missing a payment?
If you are worried about missing a payment, for your mortgage or any other credit product, you are doing exactly the right thing by reading this section. Taking action early, talking to others that can offer good advice and sticking to a new budget are all things that will help.
If at all possible, you should avoid missing a payment because it may affect your credit rating and cost more in the long run. If you can’t avoid missing a payment, you should call us because we may be able to offer a solution that would help.
You are not alone, some of these stories might sound familiar
Everyone’s story is slightly different, and while these aren’t the names of real customers, some stories might ring a bell. If they do, then you should take action as soon as possible. The best way of avoiding a big problem is to tackle it while it is still a manageable problem.
Bill had never missed a payment on anything. He was made redundant and it was taking longer than he thought to get a new job. Bill was worried that if he missed a payment, his credit rating would be affected. Bill phoned us. We were able to adjust the payment terms for his loan and linked him to our budgeting tool. We also explained the options for the credit card repayments, which helped him to avoid charges. Learn more about fees and charges.
Claire’s spending had increased over time. There was always more to pay each month, rent, car payments, bills, credit card bill, loan payments etc. Claire was worried about meeting payments. In the end, she used the budgeting tool to work out how to manage her outgoings. Claire didn’t miss a payment and she kept her perfect credit rating which meant she could borrow in the future. Learn more about our budgeting tool.
Grainne and Noel's story
A decline in family income and increase in living costs meant that Grainne and Noel were feeling the pinch. They reduced spending as much as possible, but were still two months behind on their mortgage. They got phone calls and letters from us. In the end, Grainne called us to see if we could help. Our advisor Chris was very friendly and he helped her fill out the Standard Financial Statement or ‘SFS’ over the phone. We organised a repayment plan which meant the arrears would be paid off over six months. “It was a relief to be back on track - we had a plan to clear the arrears". Learn more about our SFS and MARP process
What you can expect next
If you miss a mortgage, loan or credit card payment, this may affect your credit rating and you will end up paying more in the long term. If you do call us, we promise to be sympathetic and non-judgmental. We’ll focus on providing helpful information and go through all the potential solutions for managing your debt.
We will help you to take action to give you the best chance of resolving your debt as soon as possible. Our staff have helped thousands of customers to get their finances back on track.
If you’d like more detail about the MARP process then see here
Warning: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future.
Warning for Mortgages: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.
NOTICE: Under the Credit Reporting Act 2013 lenders are required to provide personal and credit information for credit applications and credit agreements of €500 and above to the Central Credit Register. This information will be held on the Central Credit Register and may be used by other lenders when making decisions on your credit applications and credit agreements.