You Can't Renegotiate, Credit Unions Warn Their Borrowers [Eire Region Edition 2]

Mail on Sunday › February 10, 2009

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Summary

CASH-STRAPPED credit union customers face jail because they will not be allowed to extend or renegotiate loans as the Financial Regulator gets tough on long-term borrowing.

The regulator's latest crackdown will leave many borrowers high and dry due to a tougher interpretation of the laws governing credit union loans.

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Extract

You Can't Renegotiate, Credit Unions Warn Their Borrowers [Eire Region Edition 2]

Under the Credit Unions Act, no more than 20pc of a credit union's loan...

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