Cremeegg
With respect, your advice is terrible.
People should face up to problems and resolve them. Not bury their heads in the sand.
Often good advice but that is a moral position and not the only possible view, see below.
The OP received good advice on here from a leading expert in the field, and it is wonderful that AAM allows for this and admirable that Jim Stafford contributes.
However many people want to do the best they can for themselves and while that may not be the most morally responsible thing, it is not unreasonable. As an anonymous poster it is possible to address this. I feel strongly that people who plead a hard case are often treated more sympathetically than those who just state the facts. I think everyone is entitled to seek their own advantage.
And ignoring debt collectors is by no means illegal.
He is obviously worried about this and having an unsecured debt hanging over my head would worry me too.
What happens if he ignores them and subsequently gets a job or an inheritance. They could come after him again.
While he has no assets and no income, it is the time to resolve this.
If these are considerations then the OP should do as you say. And I am sure you are right that the OP is concerned about the debt. If it were me, and I am glad I am not in that situation, I would be asking, well what can they do to me, rather than be generally worried. People are different.
What's to stop the creditor from getting a judgement in the circuit court, thus giving them 12 years to enforce the judgement? Costs would be minimal to get such a judgement.
If this was a consideration I might agree but the OP does not own his own home, see post #1
But if you can access a small amount e.g. €2,000 to get the balance written off, it's worth considering.
Brendan
If a debt collector smells money they are only encouraged. If he offered E2,000 their reaction would be, well why not E4,000 or more. If they got E2,000 what is to stop them coming back for more. Before you say a binding legal agreement, that would cost more than the E2,000.
Re-reading the original post I think the OP will take your good advice and sleep better for it. Some people like to actively face up to their problems. However a close friend of mine surrendered his home to EBS in 2009, he thought he was being responsible and facing up to his problems. Many, many, people in far worse difficulties held onto their homes through a willingness to tough it out. I am in no doubt that the debt collectors will go away if he ignores them, what alternative do they have? Get a judgement against him for E5 a week at a cost of several thousand.
Check with MABS first. If MABS can get it written off without any payment, that would clearly be better.
This would clearly be the ideal solution