Worried about payments – Frequently Asked Questions

 

 

Help with making payments

I am worried I am not going to be able to make a payment?

If you don’t think you can make a payment you should call us immediately on 1850 33 00 44 and talk to us.  We have helped lots of customers like you with their payments.

I have already missed a payment what can I do?

You should call one of our experts immediately with a debit card to make a payment on 1850 33 00 44. We have a range of options for helping you make your payments.

Are there other ways I can make a payment?

Calling us on 1850 33 00 44 is normally the quickest and easiest way to make payments, but you can also make a payment using internet banking, or pay in a branch.

Can I pay by credit card?

We can’t take payment on a credit card. You can pay over the phone via debit card.

Should I make the minimum payment on my credit card, or should I try and pay it all off?

The minimum payment is the lowest amount you have to pay to your credit card each month. Only making the minimum payment each month means it will take longer to pay off your debt and will cost you more in the long run. If you pay off your balance in full and on time every month, you will avoid interest charges and arrears.

It says my mortgage is a secured loan, does this mean I could lose my home if I don’t pay?

A secured loan, like your mortgage, is where money is borrowed against an asset, like your home.  So if you miss payments on your mortgage then your home could be at risk.

How does missing payments affect my credit rating?

If you have missed any payments this may affect whether you get approval for more credit. When you miss payments on your loan this is reported to the Irish Credit Bureau (ICB) and the Central Credit Register (CCR).  They hold information about you and your loans on an individual credit report. If you apply for another loan, the lender will use the CCR / ICB report to assess your application.

 

Contacting us

How do I update my surname, address or other contact details?

You can update your email address on EBS Banking Online. However changes to your surname or address can be done by calling into your local EBS Office with photographic Identification. It is important you give us the most up to date information so we can tell you about important updates.

What is the address if I want to post my SFS and supporting documents?

EBS - HMO, 2 Burlington Road, Dublin 4

What happens when I call?

When you call us we will need to ask you a few questions to make sure you are the authorised account holder.  After that one of our experts will listen carefully to your enquiry, and ask you any questions we need to make sure we get it right.  After that we will talk through the next steps with you.

Can someone else contact you about my payments?

We can only talk to someone you have authorised to talk to us by requesting this in writing and signed by all loan account holders. If we do not have this signed written instruction then we can’t talk to anyone else about your account. This third party advisor can be a friend or relative, but is most often a financial advisor.  You can call us on 1850 33 00 44 to discuss further.

 

Communication from us

I had a letter from the Bank saying I was in arrears, what does arrears mean?

Arrears is the money you owe us because you didn’t make a payment on time.  For example, by the amount of the missed payment.  You may also have to pay additional charges.

How do you tell me if I miss a payment?

If you miss a mortgage payment your mortgage will go into arrears. We will contact you by letter, phone or text to tell you about your options.

 

Filling in the forms

What forms do I need to fill in for you to help me with my payments?

If you want us to look at payments on your mortgage you will need to fill in a Standard Financial Statement (SFS) here. There may be other forms to fill if you have a specific enquiry.

How long does it take to do a Standard Financial Statement on the phone?

Generally for a single mortgage holder, it usually takes about 44 minutes. However many of our customers get it done quicker than this.

I can’t afford to pay you anything so why do I need to fill out documents?

We have a range of solutions to suit most financial circumstances.  To understand which solution might suit you we need you to give us some information.  All this information is in a simple form.

What happens when I fill in an SFS?

Once we receive a complete SFS we review the application and contact you if anything is missing. Then when we have finished processing the application we will contact you with our decision.

Can I change the payment date for my mortgage account?

EBS Customers can only pay their mortgage direct debit on the 7th of each month. If you would like to discuss this further please contact us on 1850 33 00 44.

 

Independent Support

I can’t afford a financial advisor, where can I get advice?

There are a number of free and independent support services that can assist you. See here 

What is the MARP process?

MARP (Mortgage Arrears Resolution Process) is a system devised by the Central Bank of Ireland outlining how your lender must treat you if you are in mortgage arrears or facing arrears.

It has four components:

  • Communication - Sets out how we have to communicate with you.
  • Financial Information - You complete a Standard Financial Statement (SFS) telling us your financial information
  • Assessment - We assess your case and decide whether to offer you an alternative payment arrangement on your mortgage.
  • Resolution - We either offer you a payment arrangement or if we don’t, we must explain the reasons why. You can appeal this decision to an EBS Appeals Board, and if you are still not satisfied to the Financial Services and Pensions Ombudsman