National Bank Car Loan
Hi, I have a car loan from Nissan with National bank now for a couple years. My employer recently reduced my hours drastically that I can afford the Bi-Weekly payments with a small bit left over. I applied for ei to cover the difference in pay yet my employer keeps me on at least 1 shift each week as I work hard and get things done on busy days so Ei denied my claim as they said I need a full 7 days with no work.
My issue is I had the money plus some in my account at Scotiabank and the carloan came out on September 25th 2026 perfectly and a couple days ago it was deposited back in as if it was rejected somehow yet the full amount initially was taken.
The bank debited a big chunk then as my line of credit payment was due (I was not paying it due to the cut hours and they were aware) and they said the line is locked and I can not access the funds that were taken.
I called National bank and got a normal agent that said to defer a payment I have to pay the interest of $120 up front on the phone to defer my $296 payment.
As my hours are drastically reduced now and there seemed to be an internal issue with the two banks causing the rejection I do not have the funds now to pay that payment in full or cover the $120 payment as I worked 1 shift this week.
I can make a full payment for my October one yet I need to find a solution if National bank would defer or Skip to the end the full amount plus interest due to financial hardship as the other option is them taking the car and getting pennies to the dollar as I have 50k km on it now.
Will they work with me or against me? My thoughts are they will not benefit any if they take the car and a loss if I am still willing to pay.
I need drastic help please. I am in New Brunswick Canada
Will a supervisor do more? Or any bank people in this chat with tips to navigate?
The normal agent said I have 3 deferrals yet I am unable to pay the $120 interest upfront now or I won't be able to pay my next loan payment