STEP 4 BACK ON TRACK
Arrears Arrears that may have accrued will need to be addressed, by increasing the original agreed repayment. Temporary Reduced Payment Arrangement Temporary Reduced Payment Arrangement – complete: it is hoped you will be able to revert to the original loan repayment amount. Permanent Arrangement Permanent Arrangement: You have entered into a new credit agreement, with an extended term and cost to your original loan. Once you adhere to the new terms and conditions, you are considered to be back on track. Applying for further credit with ACU is restricted for a period of 12 months. Realised Security If you have provided security on the loan, and this is realised (e.g. sale of security pledged), you remain liable for any shortfall that may arise, and possible legal costs associated with the disposal of the security pledged. Impact on Your Credit Rating Your credit rating may be affected by arrears on your account. Where applicable, records for credit reference agencies or any other credit register, where permitted by contract or required by law, are updated when arrears arise on accounts. This may also have an impact on your ability to avail of additional credit products in the future.
Contact Us: 053 94 88709 arrearssupport@alturacu.ie
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