As a credit union, we aim to help wherever we can, particularly when the purpose of a loan is to pay off existing debts. However, our standard checks on affordability do still apply, so it’s important that the size of your monthly repayment is realistic to your income and other financial commitments.
If your credit file isn’t perfect, that’s usually not in itself problem. However there will be situations where things have escalated beyond a point where we can help. This may include situations where you are already behind on payments with other lenders, are bankrupt, have defaulted on previous loans, or have an Individual Voluntary Arrangement (IVA) in place.