John Rambo
Registered User
- Messages
- 662
Interesting, then you propose to go on and ignore it; an indication perhaps that what you really wanted here was vindication for your 'knight in shining armour' proposal?Thanks for the advice guys...
I hope you get his approval before undertaking any representation on his behalf.... I was planning to speak to his creditors myself and "face them down" so to speak. .... If I approach the creditors, explain the situation (i.e. that he has no money and no assets) do you think they might agree a settlement? Call me incredibly naive (or even stupid) but I think there's a bit of a stigma attached to having MABS dealing with your affairs. ...
Sorry Brendan but I don't believe Ireland has the legal equivalent to an IVA (or the proposed Simplified IVA) which exists in England, Wales and NI, where a debtor's insolvency practitioner goes to court with a proposal to the creditors, which must be agreed to by the majority of the creditors (by value of debts) and approved by the court to become binding.... You could offer an Individual Voluntary Arrangement whereby you, as a friend, will pay 25% of his debts and they will write off the balance...
Frankly I'm at a loss to explain how someone with literally no "normal" living expenses (e.g. mortgage, rent, bills, food) could end up in a mess like this. It's basically a result of living like Puff Daddy without the millions to back that up. But he is committed to cleaning up his act.
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I've no doubt my friend will be able to exist on €204 a week and that he will repay me any money I pay out. I'm going to insist he start repaying me immediately (e.g. €25 a week).
Thanks to those who posted helpful and/or sympathetic material...it's appreciated.
Mathepac, I found your post (yesterday at 13.15) particularly unhelpful and condescending. I have negotiated with financial institutions on behalf of corporate clients but never on behalf of an individual.
I thought the same as some other posters...that there was a sinister massive drain on his finances (gambling, cocaine, escorts etc) but there isn't. He was just living way beyond his means.
Anyways, I spoke to the relevant creditors today (armed with an authorisation letter which I was not asked for), and we may have the bones of an agreement with all of them. Bearing my own concerns in mind (and the warnings of other posters) I'm trying to facilitate a settlement that protects my interests, his good name, and gives the creditors something that's acceptable to them. We'll see.
Thanks again for your advice folks.
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