Martin1972m
Registered User
- Messages
- 49
Nothing will happen. They may well send a letter saying they are not happy but there is very little that they can do apart from starting repossession proceedings, which is what you want them to do.What will happen when i cancel the life policies and if i stop paying the insurances? Anyone experienced this
Yes it will cost them time and money to go to Court to obtain posession of the properties. Yes they can do this without your co-operation. It would be better all around if you agreed to voluntarily surrender the property. You don't need to go to ireland to do this. However, as I mentioned in my previous post if you don't intend returning to Ireland in the short term thre are unlikely to be any severe consequences in not co-operating with the Bank.Does it cost a bank to get a judgement in absence and with the judgement can they take possession and sell the property without communicating with me.
Many thanks to Brendan for alerting me to this post.
The media are confused by the whole process to be honest.
Court cases for debts have 2 distinct phases:
1.) Obtaining a judgment and
2.) Enforcement of the judgment.
At stage 1 the court is only concerned that the person owes the money in the first place. As stated previously defending a case where the debt is real and the money is owed is pointless and a waste of time. The judge does not care at this stage that the debtor cannot pay, he is only there to decide if the debt is owed or not. Attending the case at this stage is pointless as it will not stop a judgment being made.
Stage 2 is where the court decides what can be paid or not. This is the stage where the debtor must attend court and engage the process. The court will look at the debtors means and make a decision as to what can be paid to the creditor each week/month. At this stage you must be upfront with everyone.
I hope this clarifies the situation.
Does anyone know must a judgement be in place for an irish bank to proceed to follow a debtor abroad and use the legal system abroad (Bulgaria) to summons irish debtor or what would generally be the process.
Also has anyone any similar experience with irish banks pursuing their clients abroad.
i had heard somewhere that for the bank to write of a debt against their taxes, they must put a judgement in place against that debt. .
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