Advice with a credit union

tommylad7

Hi everyone this is my first post so be gentle! I'm quite a bit I'm debt and am finally taking control. I am reaching out to all creditors to reach agreeable payment plans. 

One of the lenders is planesaver credit union and is salary deducted, I have reached out to them and asked for payments to be reduced over a longer term and for me to pay manually.

Is this a reasonable request?

Also I have over 1k in savings with them which you can't withdraw over the loan life but I have asked for this also to spread across all creditors I have. 

Is this also a reasonable request? 

Would anybody have any advice or experience in dealing with this scenario?

Kind regards everybody.

[Deleted User]

It's not unreasonable if it's all you can afford, but that doesn't really matter. What matters is if they accept it.

It's unlikely they'll allow you to withdraw the savings if that's a condition of the loan, as they would rather that was paid off against your debts with them, than with others.

Post on the DFW for a more rounded assessment of your debts. If you're thinking of setting up multiple repayment plans, then you'll be better off defaulting on everything now.

[Deleted User]

They are both reasonable, but does not mean the lender will want to accommodate them. The union might want to offset your savings against the loan (refer to your Ts & Cs) if they think you are going to try and get debt written off

tommylad7

I appreciate the responses thank you!