Alternative Repayment Options - Personal Loans/Overdrafts/Credit Cards
Depending on your circumstances, one of our alternative repayment arrangements may be appropriate for you. This could prevent your account from falling into arrears, or further into arrears.
Each of the repayment arrangements has its own qualifying criteria, with each Income and Expenditure assessed individually.
Contact us on 028 90 821682 Option 2 for loans and overdrafts and option 3 for credit cards to discuss completing your income and expenditure.
After we have assessed your Income and Expenditure and supporting documents, we will contact you to discuss the outcome. We will try to find an appropriate resolution for you, wherever possible.
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Key Features |
How it Works |
Capitalisation of the Arrears and Interest |
Restructure your repayments by spreading the amount of any missed repayments and interest over the remaining term of your personal loan. |
Your personal loan repayments are recalculated based on your paying off the loan amount plus the amount missed repayments that have been added to it. This means that your repayments will increase. |
Fixed Repayment |
You will pay a series of agreed repayments which could be interest and some capital or repayments which could be less than the interest amount due. |
At the end of the agreed period your personal loan repayments for the remaining term are recalculated. |
Interest Only |
You will only pay the interest owed on your personal loan during this period and not the capital amount owed. |
Your personal loan repayments are reduced for an agreed period. Your loan repayments for the remaining term are recalculated. This means that your repayments will then increase for the remaining period. |
Repayment Break |
Defer the payment of all or part of your personal loan repayment for an agreed period of time to ease the immediate financial pressure on you. |
At the end of the agreed period your personal loan repayments for the remaining term are recalculated. This means that your repayments will then increase for the remaining period. |
Extension of Loan Term |
Extend the term of your personal loan which could reduce your monthly repayments. |
Spreading the amount owed over a longer period of time to reduce repayments. You will pay more interest over the longer term. |
Debt Consolidation |
Consolidate all your AIB personal non- mortgage debts onto one loan. |
This will result in you having one personal loan with a structured repayment plan. |
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AIB Group (UK) p.l.c. is covered by the Financial Services Compensation Scheme, Financial Ombudsman Service and is a Registered Firm with The Lending Standards Board.
The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trade marks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.