Having Difficulty Repaying your Home Loan?
It can be very difficult and stressful when your circumstances change, and you find yourself unable to meet financial commitments. This can happen if you lose your job, become ill or find your personal circumstances have changed.
As a community lender we try hard to be flexible to help individual members and can often agree an alternative arrangement if your circumstances change. However, we have a duty and legal right to recover monies borrowed, as these are the savings deposited by other members. Enniscorthy Credit Union Ltd. is required under the Code of Conduct on Mortgage Arrears (CCMA) which is issued by the Central Bank of Ireland to have a MARP (Mortgage Arrears Resolution Process) in place for its members who experience financial difficulty and are in arrears or are at risk of going into arrears (Pre-Arrears) on their mortgage with the Credit Union.
We are committed to assisting members in financial difficulty, whether those difficulties are temporary or more permanent in nature. Our goal is to get members back on a fair and sustainable payment plan as soon as possible, and to this end co-operation is necessary. If members don’t work with us towards this solution, they are at risk of being deemed non-cooperating, which will ultimately result in those members losing the protections afforded under MARP.
