I have an outstanding loan from an Irish bank to a Limited company with personal guarantee from me.I have tried to negotiate a resolution but we couldn't agree a plan so the bank insist on immediate repayment in full and have passed the case to their solicitors.The amount is enough to put it in the civil court and I received a Civil Bill that they would be looking for a judgement against me.I didn't enter an appearance as I owe the money and don't dispute this. I was waiting until funds owing to me were paid so that I could clear or partly clear the debt.
The banks solicitors, while pushing for repayment have not yet sought a judgement, although they continue to threaten.
I have now managed to reduce the amount to around €5000 so I would like to know:
Is the original Civil Bill invalid as the amount involved has now dropped below the Civil Court threshold?
If so,I presume that I can expect a District Court Claim Notice as the bank still indicates that they are not prepared to enter into a phased agreement despite the majority of the outstanding amount being discharged. I can't pay the balance right now, however I will be working outside the country shortly and will be able to save enough to pay it by summers end.. So I would like to know.:
If I can't be served the Claim Notice as I won't be in the country,will that allow me enough time to save the money and pay off the balance without a judgement being made or registered, or can a judgement be made without my receiving notification?
Or if I accept a Claim Notice and attend the hearing, can I make my proposals re payment to the judge? Would the judge be likely to stay the proceedings if my repayment suggestions were reasonable?
The banks solicitors, while pushing for repayment have not yet sought a judgement, although they continue to threaten.
I have now managed to reduce the amount to around €5000 so I would like to know:
Is the original Civil Bill invalid as the amount involved has now dropped below the Civil Court threshold?
If so,I presume that I can expect a District Court Claim Notice as the bank still indicates that they are not prepared to enter into a phased agreement despite the majority of the outstanding amount being discharged. I can't pay the balance right now, however I will be working outside the country shortly and will be able to save enough to pay it by summers end.. So I would like to know.:
If I can't be served the Claim Notice as I won't be in the country,will that allow me enough time to save the money and pay off the balance without a judgement being made or registered, or can a judgement be made without my receiving notification?
Or if I accept a Claim Notice and attend the hearing, can I make my proposals re payment to the judge? Would the judge be likely to stay the proceedings if my repayment suggestions were reasonable?