.................Thank you for your reply. Is it with the bank that this negotiation should take place is or is it with the solicitor??
New 2015.Just some relevant answers to you queries!
- The loan is in your name & not your husband's. However as you are not employed outside the home they have requested details of your husbands income. You need not supply this information to them.
- Given that you have no income of your own a settlement proposal should be offered. Assumption is that these funds will come from your husband's income or from relative. You should persist with this approach as you appear to have no ability to meet a level of monthly repayments.
- There is a limit as to what the financial institution can do if you don't pay. The most likely scenario is that if the settlement proposal is any way reasonable (i.e. €2/3,000) they will ultimately accept this. Alternatively they will go for judgment. No need for you to attend Court as the judgment will be granted anyway. You will receive a Court Summons but as I said this is only a format and you have the option of attending. Once judgment is granted the only realistic option open to them is to register this on your family home. This is of no great significance to you unless you intend selling in the short/medium term.
Most likely outcome is that after some huffing/puffing they will accept the settlement offer if it is anyway reasonable (see above).
New 2015.
Brendan44 has given you good reasoning.
.....................................................
I would be very very reluctant to take money from a relative, there is NO better way to fall out with family! and family are more important than BOI.
I also note you offered said relatives offer to BOI and BOI said no.
They are now using the 28 days (trick) to see can they get more from you.(as they are entitled to )
That was an offer made at that time which BOI refused, so when BOI come back ,tell them that relative has withdrawn help.
You have no income, you have 5 kids , your husband has an insecure job.
As Brendan44 said , you do not have monthly repayment capacity.
What would be the long term benefit in saddling a family debt (forget about the amount)
Send BOI your statement showing you have nil income in your own name.
You do not have to give husbands position , but given what you say ,it should do no harm to give it since with 5 kids + rent/mortgage I don,t see any free cash.
I am inclined to ask you to go to MABS , they appear to be very good at sorting these CC issues.
..................Hi Gerry,A bit confusing with two posters getting advice on the same thread(my fault).
The Cc has had interest stopped.I earn about 250 a month part time,and herself take home about 2300 with rent of 1200.Due tothe location of my wife's work,we need 2 cars(2 kids).So,even the token payment is all I have.
I see no point in the extend and pretend farce that I am going through at the moment,but agreed to it to get past Xmas.My 6 months on this deal is up next month,and I am thinking of just saying that I have no more money to give,so my new payment will be zero.Will this force the bank to act
I could maybe get 500 Euros from my mother as a soft loan,if this would be enough to get closure.Otherwise,the bank could get an unenforceable judgement (would they bother as I have no assets except a 12 year old car ?)
Would you have any experience of how little a bank would accept in a hopeless case?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?