Can I assume bank will take out judgement against me?

Discussion in 'Personal Insolvency, bankruptcy, etc' started by zxcvbnm, Jan 11, 2017.

  1. zxcvbnm

    zxcvbnm Frequent Poster

    As the subject title asks, is this a reasonable assumption?

    Quick background (as stated in other thread I made a few minutes ago).
    I have serious residual debt leftover of a few hundred thousand. Was unable to reach informal agreement with bank. Negotiations are now over.

    I'm assuming the bank will lodge a judgement against me? Is this a normal next step that vavjsvtake? Or is it?
    Negotiations broke down last march. And I then received a letter demanding repayment in full within 21 days last August.
    And nothing since.
  2. TLO

    TLO Frequent Poster

    It's impossible to predict. Some possibilities:

    1) You might never hear from them again.
    2) You might not hear from them for five years and then they apply for a judgement just before the statute of limitations kick in.
    3) They might apply for a judgement within the next few weeks.

    You just don't know. And they themselves probably don't know what they are going to do, if anything.
    Gerry Canning likes this.