That might be a false understanding. It'd be true if it were a small amount, less than 10k for example, as the legal costs would outweigh what they recover. But you're talking about a significant amount here.I understand that staying in the UK probably means it is unlikely for Start to pursue my debt further.
That might be a false understanding. It'd be true if it were a small amount, less than 10k for example, as the legal costs would outweigh what they recover. But you're talking about a significant amount here.
But, you have 25k? That's worth pursuing.The value of the debt is large but what they could actually recover if they came after me is (probably) small for the trouble.
But, you have 25k? That's worth pursuing.
There's more than 10k owed. It's worth their while investigating whether or not it's worth pursuing. There are certain things they can do before spending any real money. Do you have a job? Have you a LinkedIn profile where you've stated your title? Facebook? I can find out a lot about a person without even having their address.So do you believe that they would pursue legal action to recover money that they don't know exists in another country?
So do you believe that they would pursue legal action to recover money that they don't know exists in another country? It seems far fetched but I don't know much about this, just going by other threads I read here.
I really want to move on from this after 11 years of fighting which resulted in losing my home, and I definitely am not willing to hand over the little I saved to a vulture fund. But on a personal level, I really want to go home.
You owe €250,000. You don't get to move on and keep the money that you have squirreled away too. It doesn't work like that. To move on, you will probably have to give up your savings. Given it will mean that 90% of your debt will be wiped out, that's a pretty good deal. I'd look into what Brendan said, look at going bankrupt in the UK and in 2022, you can start all over again debt free.
PTSB must have known of the shortfall at the time of the sale? What did they say about it?with the agreement of PTSB, I finally sold my negative equity property at the end of 2019.
PTSB must have known of the shortfall at the time of the sale? What did they say about it?
Have you looked into the statute of limitations on the debt?
I think it would be worth your while to dig out the correspondence; they must have written something in the letter agreeing to the sale?They have consented to the sale but were not willing to address the shortfall.
As RedOnion suggests, Start can easily do online searches to track you down.I can find out a lot about a person without even having their address.
No need to go bankrupt. (If you went bankrupt you would lose your £25,000.) If you make an honest approach to Start (particularly if you are living in the UK) then you should reach a deal. You should send your correspondence on a Without Prejudice basis.
I agree. Plus why initiate it. Let them come to you and even then I would not acknowledge receipt of anything at first. They can send a lot of intimidating letters but a lot is just trying to get a reaction.But is an average customer well equipped to deal with Start? (I don't think I would).
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