Debt Consolidation Loan – 7.95% (8.2% APR) Variable
“Transfer multiple debts to us for one simple manageable payment”
Why choose a Letterkenny Credit Union Debt Consolidation loan?
- No hidden costs or administration fees
- No penalty for early payback, you can pay the loan off early or make lump sum payments with no additional charges
- Free life cover on your loan (subject to terms & conditions)
- Low-Cost Loan- affordable loans
- Flexibility to repay your loan with terms of up to 10 years
- Repayments to suit you – weekly, fortnightly, 4-weekly or monthly
- Fast and efficient service
ALL WE REQUIRE IS:
- Proof of PPSN (Payslip, document from Revenue or Department of Social Welfare)
- Photo ID- Current Drivers licence or Passport
(For non-UK or EU nationals we also require the member’s Irish Residence Permit. The loan term should fall in
line with Irish Residence Permit Expiry) - Proof of your Address: A current utility bill, bank statement or government letter dated within the last 6 months
- 1 recent receipt of any income you receive (this may include payslips, social welfare receipts, pension receipts or
if you are self-employed we need your most recent chapter 4 notice of assessment which has been submitted to
revenue) - 3 months up to date bank statements, dated as close to the application date as possible, (your statements
should show your income and any mortgage/rent or loan payments that you may have and be no older than 3
months)* - Statements of each of the debts that you are seeking to repay
*For lower-level applications a bank statement may not be required
If your total loan exceeds €30,000 please get in touch with the loans team and they will advise you of the documentation required
Terms & Conditions
- Applications are open to all members of Letterkenny Credit Union Ltd.
- We require BIC and IBAN for all debt accounts we are clearing as we make payments directly to clear the debt.
- Maximum term 10 years.
- All debts that are to be consolidated must not be in arrears.
- Maximum loan of €25,000.
- The owner of the debt must be a party to the loan.
- Members with mortgage arrears or who are in an arrangement (moratorium) on mortgage debt may not avail of a debt consolidation loan.
- We will not take over debt that has been written off by another financial institution or non-performing loans that have been assigned to a debt consolidation agency.
APPLYING FOR YOUR LOAN IS EASY
Apply through your cu online members area
Apply through the Letterkenny Credit Union App
Apply in person
CONTACT DETAILS OF THE LOANS TEAM
Should you have any queries contact our loans team
Email: Loans@letterkennycu.ie
Phone: 074 91 02 126
REPRESENTATIVE EXAMPLE
| Consolidation Loan Amount | Term | 120 monthly Repayments | Total Amount repayable |
| €25,000 | 10 years | €302.75 | €36,328.79 |
Representative example correct as at 20.03.23