Once the judge hears the debtor is on €100 a week dole, he will dismiss the application with liberty to re-enter if the debtors circumstances improve. Most district court judges will not give an order against any person in receipt of social welfare.
Creditors can push all they like but at the end of the day the judge will decide. In general judges do not dissect the ins and outs of a debtors spending.
Interest will continue to amount at a rate of 8% per year from the date of the original judgement.
Also, the debt can become statuate barred, 12 years once a court judgement has been obtained.
If no court judgement has happened it would become statute barred after 6 years.
See; Askaboutmoney.com Court Judgements question. 7/12/2009
They can make an application for enforcement any time during those 12 years. But they only have 12 years from the date of original judgement to chase the money. Once those 12 years are up they are out of luck.
Generally the game plan is to get judgement, slap a judgement mortgage on any property owned and then get an instalment order. If the debtor sells his house during the 12 years they will get their money with interest. Of course if there is no property all they have left is the instalment order. Over the 12 years they make get very little back of the original debt.
No.Can the creditor reapply for a new judgment if the 12 year old judgment is coming near to expiry?
They certainly could. The thing is not many people would be well up on the rules.And what would happen if say on year 11 the debtor started to repay the debt, could they refuse to pay any further payments of the debt using the Stat Bared rule?
DO you mind if I ask how a 20 year old managed to get into €14k of debt?For example if a person of 20 years of age had the dole income of €100 per week and a debt owed to the creditor for €14,000 but real outgoings of €100 per week, how would a judge act? How could an enforcement order be made?
DO you mind if I ask how a 20 year old managed to get into €14k of debt?
They reppossed their car and have come after them for the remainder.
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Why would they go after someone who has no money and no assets? Are there assets? It costs money for the Scottish Bank to go to court so if the person corresponded with them and told them they have nothing they will probably stop pursuing the person.
In this particular case, the problem is that the 20 year old would need to stay on the dole for 12 years to avoid paying the debt. Any 20 year old who does this will become unemployable and spend the rest of their life living in poverty - a much worse position that paying off some or all of the debt.
Can anyone see Ireland getting out of this mess? He is considering walking away from his debt and leaving the country looking to start a new life elsewhere.
The best advice you could give the 20 year old is to keep trying to get a job and pay off the loan - dont throw your life away for the sake of 14k.
How about going to the likes of MABS and getting them to negotiate a reduced final payment. The banks write off lots of debt this way with BIG companies and take a fraction of what they are owed. Could try a Credit Union loan to to this as the Credit Unions are easier to deal with.
Also this outstanding loan could affect your credit rating in the future.
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