CU says 'come in and talk' about difficulties

Kilcullen Credit Union has appealed to members who may be experiencing repayment difficulties on their loans to contact the CU's Credit Control Committee personally and in a timely manner, writes Brian Byrne.

In particular, the CU asks that contact in a difficult situation not be done through a money advisory service of a debt management company.

During 2011 Kilcullen Credit Union became a member of the Irish Credit Bureau and all applicants for loans are now checked throug the ICB.

The CU also retained a debt collection company, Advance Credit Management. The Credit Committee emphasises that using this company is only a last resort used when all other methods of trying to contact a member 'have proved futile'.

Loan accounts are monitored weekly, and members missing payments are contacted by text, phone, email, letter or visit.

"Unfortunately, some members do not respond to these efforts," the Committee noted in its report to the recent AGM, "and we have no option but to pursue the repayment of the member's loans by all means available, in the interests of he majority of our membership."




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