Few PIA questions

E

esiuol

Registered User
Messages
17
Hello,

Can anyone advise here. If the Protective certificate has been issued but the Repossession proceedings are ongoing (prior to receipt of the certificate) can a court date be adjourned to a date within the 70 day validity of the protective cert or does this fall under Creditors making direct contact?? No payment to the Mortgage bank has been missed. Interest has always been covered. Hope this makes sense

Also, in relation to bank accounts etc. Is it the case where there is only one back account allowed to be held by the person going insolvent. In the case of self employed and business account, can a personal and business account be held?

Are there restrictions in relation to taking a family holiday to visit other family members etc?
 
esiuol said:
can a court date be adjourned to a date within the 70 day validity of the protective cert
Click to expand...

I see no reason why a court date could not be adjourned to a date within the 70 day period. I can see a bank seeking such a date within the 70 day period if they felt that once the PiP carried out a full assessment that the PIP might decide that no PIA was feasible, and therefore lift the Protective Certificate early.

esiuol said:
In the case of self employed and business account, can a personal and business account be held?
Click to expand...

Yes, 2 accounts could be held if they were necessary.

esiuol said:
Are there restrictions in relation to taking a family holiday to visit other family members etc
Click to expand...

If you are in either a PIA or a bankruptcy any holidays must be paid from the Reasonable Living Expenses allocated.

Jim Stafford
 
Thank you Jim. So a person could still be turned down for the PIA even after the cert issued? what are the deciding factors here?

The bank seem to have requested that a new account be opened in the insolvents name. it's very confusing
 
esiuol said:
what are the deciding factors here?
Click to expand...

Generally it is a new piece of information that materially changes the PIP's opinion. Some debtors are highly stressed and they forget about previous judgments etc. In extreme cases you might have cases of non-disclosure of assets transfers to relatives etc that the debtor "forgot" to disclose to the PIP.

esiuol said:
The bank seem to have requested that a new account be opened in the insolvents name
Click to expand...

Some banks will exercise a right of set off against credit balances and close out credit cards etc. it is best to have a credit card and a bank account with a bank that is not a creditor.

Jim Stafford
 
Thank you Jim
Things have been gone through very carefully and so much information requested and provided by him so hopefully it will be successful. The stress of it is unbelievable .

Do you know if the PIA can't be put in place, is bankruptcy an option and if so how does this affect the family home?
 
Thanks Jim, Its quite complex. Hopefully the PIA will work out. The Bank can no longer veto it i believe.
 
You must log in or register to reply here.
Back
Top