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?