Anyway, does any one have better advice then bankruptcy? At least this is what one law firm suggest as a way out.
Because the cost of people not bothering to pay their debts is added to the cost of borrowing for everyone else, those who do actually pay their debts.Not sure how my bankruptcy would affect your pocket?
speak to them, get a repayment plan, get a job and start paying it back.
They don't want to but they are going to have to. They are trying to force you to meet their repayment. You can't. They think you can but you can't so you need to start planning what you can do.I tried, but there minimum monthly payment is 1000€, they dont want to talk about less then that.
I tried, but there minimum monthly payment is 1000€, they dont want to talk about less then that.
Marco,
For clarification, you spoke to a Lawyer in Italy rather than here in Ireland?
Just out of curiosity, how does one get a credit limit of 15,000? Unless you once were a massive earner this seems quite reckless on the part of the credit card issuer. If a normal salary earner "needs" that high a credit limit they almost by definition can't pay it back.
I had a car loan of 7000€ and they offered me credit card after I was late on one payment, so the card could cover the payment if I would be late again. After that they raised the limit automatically when I was late or paid extra interest on it as of minimum payment that month.
Nothing stupid about it. Your qualification for certain insolvency options in Ireland are only available if you're in Ireland (or recently living here). Being abroad complicates things.No one in Ireland want to talk to me as my address is in Italy. I know stupid.
I had a car loan of 7000€ and they offered me credit card after I was late on one payment, so the card could cover the payment if I would be late again. After that they raised the limit automatically when I was late or paid extra interest on it as of minimum payment that month.
To the extent that I'd be skeptical we're getting the full story...Automatically raising the credit limit after a missed payment seems to reckless, irresponsible and bizarre
This makes no sense. You’re saying your lender gave you a credit card to pay them back what you owe them with their own money because you started missing repayments?