€10k Irish Debt - Live in UK - Intend to Pay

Discussion in 'Banking, credit cards, etc' started by RonaOha, Oct 17, 2017.

  1. RonaOha

    RonaOha Registered User

    Posts:
    30
    Put the letters in the post today, we'll see what happens.

    Asked them for 14 days to get everything in order then I'll send them budget sheets as I need to get a few things together.
     
  2. RonaOha

    RonaOha Registered User

    Posts:
    30
    AIB have got my letter and only wanting to discuss this via phone rather than via written medium, I've told then I'm not willing to do that.

    Advice?
     
  3. vandriver

    vandriver Frequent Poster

    Posts:
    1,624
    That's so they can pressurise you into agreeing to an unrealistic repayment.(or in your current situation, any repayments),with no come back.
    You need a written record of everything.So just refuse to deal any other way.
    If it's a problem with postal delay,you can always give an email address.
     
  4. RonaOha

    RonaOha Registered User

    Posts:
    30
    Cheers.

    I will mail them and say to them it's via post or I will offer the alternative of email but will not be dealing with them under any circumstance via telephone as I require everything in writing and that is not up for negotiation.

    The only letter I sent them so far was a notification I will not be making payments in November onwards and a request to stop charges and interest and give me 14 days to do up a personal financial statement and send them this and demonstrate my income and outgoings

    Guess there will be no more movement on this until Tuesday now.
     
  5. RonaOha

    RonaOha Registered User

    Posts:
    30
    Bank have rejected my request to suspend charges and interest on my accounts and said that I am required to meet the original terms of the agreement that I have took out as I am obliged to do so.

    Also they have said they will not be communicating with me via letter and the only method to discuss arrangements will be via phone and they are not budging from that and they want to take my household budget over the phone using their own values and guidelines rather than the ones that I supply them which they have not got yet.

    They say the team who deals with this kind of thing only deals with customers over the phone so this cannot progress without them and I am therefore required to call them at my own expense.

    Unfortunately it seems that the bank are not willing to work with me on this.
     
  6. RonaOha

    RonaOha Registered User

    Posts:
    30
    Any advice?
     
  7. galwaypat

    galwaypat Frequent Poster

    Posts:
    89
    First suggestion is get a job, plenty jobs here in ireland again,building sites looking for Labourers not much experience required just put the head down and work hard, if you don't fancy that just go bankrupt and start again your 10 grand is not going to tip the scales at thist stage.
     
  8. RonaOha

    RonaOha Registered User

    Posts:
    30
    Returning to Ireland right now is not an option unfortunately, at least for the moment.

    'Problem with going bankrupt is it'll destroy my credit rating for the next six years and occasionally in my roles I've had to have a credit check prior to applying.
     
  9. vandriver

    vandriver Frequent Poster

    Posts:
    1,624
    If you are looking for a British job,then your UK credit rating is fine.
    Honestly (from experience) AIB are not good to deal with.They are intransigent and unwilling to do a deal of any kind.
    I kind of expected a response like you just got.
    If you never answer the phone,because AIBs number is blocked,for example,then they would have to deal with you by letter.
    Eventually(up to a year) they would appoint BCW ,Stubbs or one of the other agencies .They will then write to you .Many times.They will ring you,if their numbers aren't blocked.
    If you don't engage at all,the debt collection agency will lose interest.Possibly a second or third agency will be appointed.
    They will all threaten court.But that's all it is.Empty threats.There is no percentage whatsoever in taking someone who is penniless to court.
    They might then (in about 2 to 3 years) offer a settlement of 50%.
    Please note that if you accept,you reset the clock on the six years enforceability of the debt .The debt stays on your ICB record for 5 years after you have cleared the debt,or its written off .
    So,say in 3 years,you accept a 50% settlement of your debt payable over 3 years,then your ICB won't be clear until 2028 .
    Unfortunately trying to do the right thing has more disadvantages than advantages.
    It is up to you how to proceed,but keep some of the above points in mind.
     
  10. RonaOha

    RonaOha Registered User

    Posts:
    30
    Last edited: Nov 29, 2017
    AIB rejected my token offer.

    They still want at least €80 a month for 12 months and €280 a month after that which is the only deal that they are willing to do. They won't suspend interest, payments or other charges.

    They still also want to charge currency conversion fees on incoming payments and my UK bank will charge £9.50 on outgoing payments so the total cost is going to be effectively over €100 a month.

    That's on an income of £73.10 a week.
     
    Last edited: Nov 29, 2017
  11. RonaOha

    RonaOha Registered User

    Posts:
    30
    Any advice where to go next? I've already written back to them and told them that essentially the whole thing can go to court and they'd be wasting their time as any judge would see that I do not have the means to pay the sums that they are asking for
     
  12. TLO

    TLO Frequent Poster

    Posts:
    187
    At this stage three possibilities come to mind:

    1) Do nothing and ignore all contact from AIB.
    2) Apply for your own bankruptcy in the UK.
    3) Try to get a job which leaves you enough left over to make payments.
     
  13. RonaOha

    RonaOha Registered User

    Posts:
    30
    Yes - I will await their further response since I sent them some more materials and also a letter from the debt charity that states how much they believe I can pay based on their opinion.

    The debt charity also told me that if they still refuse a reasonable sum that I should inform them that I will in that case choose to go down the bankruptcy or Debt Relief Order route to see if that focuses the minds of AIB on the basis that they may well get nothing if I go down that route.
     
  14. RonaOha

    RonaOha Registered User

    Posts:
    30
    AIB have now stated they will be sending me a formal letter and not deal with me via email going forward. This is the same AIB that spent several weeks saying that they could not deal with me via letter under any circumstance.

    I have now missed my first Credit Card repayment and first loan repayment but my current account is still within the overdraft limit (just) so I guess that this has made them suddenly discover the ability to write letters.

    1) Realistically not an option I want to take.
    2) I aim to go down the Debt Relief Order route if possible, I've already told AIB this means they will most likely have to write the debt off.
    3) My proposal to AIB was to pay a token amount until I gain employment then up payments. This offer was refused.

    Any further advice for me?
     
  15. RonaOha

    RonaOha Registered User

    Posts:
    30
    They have made me a slightly better offer than the last original one of €81 a month for 12 months and €280 for 4 years.

    Their latest offer is €80 a month for 12 months and then €200 a month over 6 years.

    Still not affordable on the basis that the first 12 months payments are too high but the higher payments should be affordable on the basis I gain employment.

    They've now said their next actions are to issue a 60 day pre-demand letter, what does this mean?

    They have refused to stop interests and charges continually to this point.
     
  16. RonaOha

    RonaOha Registered User

    Posts:
    30
    Can I have some assistance with this?

    The bank are now saying they will expire my overdraft from 8th February 2018 and start to charge me a much higher rate on my overdraft.

    Meanwhile they are refusing to really budge other than €80 a month for 12 months and €200 a month over 6 years, which I cannot afford the €80 a month payment for 12 months right now.

    What do I do? I'm at wits end here.
     
  17. vandriver

    vandriver Frequent Poster

    Posts:
    1,624
    Nothing.
    It's all you can do.
    Let them try and terrify you,because that's all they can do in your case.
    Get on with your life.
     
  18. RonaOha

    RonaOha Registered User

    Posts:
    30
    I've told them I cannot commit to €80 a month for 12 months in good faith and that they appear to have totally no idea of the cost of living in the UK in a fairly rural location and that they are not being reasonable.

    I made them a final offer of £11 per month since I can change my UK bank account to another one which has no charges on outgoing international payments which would allow me to avoid paying this charge on any payment to AIB.

    I pretty much told them that we can:
    A) come to a settlement on what I can actually afford to pay.
    B) we can go to court and the judge won't give them anymore and they can pay all the expenses involved with that.
    C) I can get a DRO or bankruptcy and they get nothing.

    Since they're still adding charges on, interest and are going to hit me with higher surcharge interest it's looking like C will be very likely.