Walked out (emigrated) on joint mortgage in 2014, coming into inheritance soon

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To the OP. There has been a bit of a pile on regarding your various responses and your attitude to your debts. However you seem to be missing some key insights and I think it is because you are reading some of the posts extremely literally.

No, you didn't take out a mortgage with everyone but with a financial institution. HOWEVER by reneging on the contract and not paying back the debt, you and many others have caused an unintended consequence of requiring the general taxpayer i.e. everyone else, to indirectly fund these bad debts through higher mortgage interest rates. To put it more simply: if all mortgages now in arrears or written off had been serviced properly, it most likely that a) interest rates would be lower b) there would be greater competition in the space as the perception of mortgage lending would not be so heavily skewed agains banks etc. with consequential lower rates.

Who did or didn't vote for a government is ENTIRELY IRRELEVANT. What previous generations did or didn't do is ENTIRELY IRRELEVANT.

What is relevant is that you freely entered into a contract for a loan and through whatever circumstances, be it the end of the relationship, loss of job, wanderlust for travel or whatever, you skipped off abroad knowing full well that you were leaving a debt behind and you were hoping that it would go away. The debt hasn't gone away.

Now I don't exactly know how the bank you are indebted to might work. It might well happen that you receive your inheritance, take the house in your name and the few bob and you never hear another word. If so, you may well be delighted. But you will probably never get another loan, never move to another house or another part of the country, never be able to take out a car loan or a credit agreement for furniture or something else and there will always be the possibility that the bank 'finds you' and pursues you for the debt.

Only you can decide if you want to live your life like that.

I wouldn't.
 
Hi Gordon

I think it's useful to tease these issues out.

It's interesting that the OP feels that we are all to blame for his not paying his debts.



Brendan
 
tallpaul said:
To the OP. There has been a bit of a pile on regarding your various responses and your attitude to your debts. However you seem to be missing some key insights and I think it is because you are reading some of the posts extremely literally.

No, you didn't take out a mortgage with everyone but with a financial institution. HOWEVER by reneging on the contract and not paying back the debt, you and many others have caused an unintended consequence of requiring the general taxpayer i.e. everyone else, to indirectly fund these bad debts through higher mortgage interest rates. To put it more simply: if all mortgages now in arrears or written off had been serviced properly, it most likely that a) interest rates would be lower b) there would be greater competition in the space as the perception of mortgage lending would not be so heavily skewed agains banks etc. with consequential lower rates.

Who did or didn't vote for a government is ENTIRELY IRRELEVANT. What previous generations did or didn't do is ENTIRELY IRRELEVANT.

What is relevant is that you freely entered into a contract for a loan and through whatever circumstances, be it the end of the relationship, loss of job, wanderlust for travel or whatever, you skipped off abroad knowing full well that you were leaving a debt behind and you were hoping that it would go away. The debt hasn't gone away.

Now I don't exactly know how the bank you are indebted to might work. It might well happen that you receive your inheritance, take the house in your name and the few bob and you never hear another word. If so, you may well be delighted. But you will probably never get another loan, never move to another house or another part of the country, never be able to take out a car loan or a credit agreement for furniture or something else and there will always be the possibility that the bank 'finds you' and pursues you for the debt.

Only you can decide if you want to live your life like that.

I wouldn't.
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I haven't caused the unintended consequence of making the taxpayer responsible for funding my bad debts, all I did was take out a contract with a private entity and that contract failed like they often do. Somebody or entity certainly did create a mechanism whereby the Irish taxpayer became responsible for those bad debts however I am not that person.

I travelled abroad to work.

I will be able to avail of financial instruments in the future as long as the bank is happy with my creditworthiness at that time, that is how it works despite what you've been told.

And yes I'm perfectly happy behaving legally.
Brendan Burgess said:
Hi Gordon

I think it's useful to tease these issues out.

It's interesting that the OP feels that we are all to blame for his not paying his debts.



Brendan
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I'm not sure why you're misrepresenting me and it might possibly be for the second time but to clarify - I'm not blaming you or anyone else who has taken the time to post here for me not paying my debts.
 
pauliesbowl said:
I haven't caused the unintended consequence of making the taxpayer responsible for funding my bad debts, all I did was take out a contract with a private entity and that contract failed like they often do. Somebody or entity certainly did create a mechanism whereby the Irish taxpayer became responsible for those bad debts however I am not that person.

I travelled abroad to work.

I will be able to avail of financial instruments in the future as long as the bank is happy with my creditworthiness at that time, that is how it works despite what you've been told.

And yes I'm perfectly happy behaving legally.

I'm not sure why you're misrepresenting me and it might possibly be for the second time but to clarify - I'm not blaming you or anyone else who has taken the time to post here for me not paying my debts.
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you post like someone that has been got to by the freemen,

if you are happy with the deal you made with the bank at the time of taking out the loan then you would understand that you still are indebted to the bank.
 
At this point, I think you speak to a professional. If you have income, then a DSA is probably the route (considering the property was sold and the bank has no security over you). If you get a DSA completed before you inherit, then you have set out what you achieved.

I suppose, there is whats morally right, and whats possible. You can see how the majority feel about here. You can take the selfish approach, which you have. But dare I say it, there are plenty of people out there who will look after themselves first. I wouldnt like to see this forum to be used as a tool to evade/avoid ones responsibility. So I think getting proper advice is your next step.
 
Shirazman said:
So that's where you got it from. It's not all your fault so, it's an inherited dislike of paying one's debts.
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Thats not very polite. If I was in the same situation I would rather it goes to the local donkey sanctuary rather than the bank who is a business and has allowance for bad debts etc. I dont think my attitude is unique.
 
Marine1 said:
you post like someone that has been got to by the freemen,

if you are happy with the deal you made with the bank at the time of taking out the loan then you would understand that you still are indebted to the bank.
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I'm not sure if I'm still indebted to the bank, they may have written it off or they may have a judgement issued against me. These are things I'm currently trying to find but some are inserting their ideas of morality into the issue instead of helping me.
PIPPOP said:
At this point, I think you speak to a professional. If you have income, then a DSA is probably the route (considering the property was sold and the bank has no security over you). If you get a DSA completed before you inherit, then you have set out what you achieved.

I suppose, there is whats morally right, and whats possible. You can see how the majority feel about here. You can take the selfish approach, which you have. But dare I say it, there are plenty of people out there who will look after themselves first. I wouldnt like to see this forum to be used as a tool to evade/avoid ones responsibility. So I think getting proper advice is your next step.
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Thank you. Yes I see how some posters here feel but this is not the real world, the real world is
my personal circumstances and they are only known to me.
Shirazman said:
So that's where you got it from. It's not all your fault so, it's an inherited dislike of paying one's debts.
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Any reasonable person seeks to minimise their liabilities. You are not being reasonable you're being bitter. Which I understand but you're directing it at the wrong person.
Gordon Gekko said:
I think this thread has run its course.

Like a blind and limping elderly dog, it really does need to be put out of its misery.

I’d ask the Mods to do the decent thing and administer an OBE.

*One Behind the Ear
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Thanks for your input, I am fully aware of your position and will certainly be taking it into consideration. No need to continue posting but again thank you.
 
pauliesbowl said:
I'm not sure if I'm still indebted to the bank, they may have written it off or they may have a judgement issued against me. These are things I'm currently trying to find but some are inserting their ideas of morality into the issue instead of helping me.
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You most likely are still on someone’s books. Either you’re indebted to the Bank itself or to the entity who the bank sold the debt to after the bank wrote the debt down.

You should do a judgement search against yourself in the High Court Central Office to see if the bank has obtained judgement against you.
 
pauliesbowl said:
Any reasonable person seeks to minimise their liabilities. You are not being reasonable you're being bitter. Which I understand but you're directing it at the wrong person.
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I'm not bitter, merely contemptuous.

And I'm directing my contempt at the person who took out a mortgage, ran away, slithered back home a few years later and now wants to rat out of repaying it. So if that isn't you, then I apologise.
 
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pauliesbowl said:
I did was take out a contract with a private entity and that contract failed like they often do.
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Do you acknowledge the impact of your actions on the the rates of other mortgage holders in Ireland as has been explained earlier in the thread?

That is why there is hostility in the responses you've received. Many others are bearing the brunt of those who choose to not pay when they have the means to.
 
pauliesbowl said:
You're incorrect in saying I welched - not only was the contract not a wager but provisions were made within it for the eventuality that I'd be unable to meet the repayments due to unforseen events or whatever. I experienced those events and am now I'm seeking to minimise my liability like anyone would do.

I'm not sure what behaviour you'd like me to make amends for and to whom?
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What do you think happened to the partner you left behind? Someone with whom you once had a relationship? What do you imagine they had to go through? And you haven't even bothered to contact them; you can't even say I'm sorry.

I'll let everyone else get up on their high horse about banks and paying debts.

It's your contempt for another human being that I find despicable.
 
The funny thing is the OP keeps referring to the contract as if it allows for the eventuality of him defaulting and absconding without any effort to engage. His only interest in engaging now to to avoid "his" inheritance getting diluted/wiped out. He thinks his carry-on is victimless but he's clearly ignoring - either through stupidity or plain selfishness - the link between his actions and the cost to the rest of us through higher mortgage rates and taxes etc. And that's ignoring the fact that he left his former partner on the hook.
 
Jayom75 said:
You most likely are still on someone’s books. Either you’re indebted to the Bank itself or to the entity who the bank sold the debt to after the bank wrote the debt down.

You should do a judgement search against yourself in the High Court Central Office to see if the bank has obtained judgement against you.
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Thank you.
Shirazman said:
I'm not bitter, merely contemptuous.

And I'm directing my contempt at the person who took out a mortgage, ran away, slithered back home a few years later and now wants to rat out of repaying it. So if that isn't you, then I apologise.
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That's fine but I'll ask you to keep your emotions to yourself please.
PGF2016 said:
Do you acknowledge the impact of your actions on the the rates of other mortgage holders in Ireland as has been explained earlier in the thread?

That is why there is hostility in the responses you've received. Many others are bearing the brunt of those who choose to not pay when they have the means to.
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Yes certainly I acknowledge that however I never agreed to that when entering into the contract so whilst it's unfortunate I'm not holding myself accountable for it.
Thirsty said:
What do you think happened to the partner you left behind? Someone with whom you once had a relationship? What do you imagine they had to go through? And you haven't even bothered to contact them; you can't even say I'm sorry.

I'll let everyone else get up on their high horse about banks and paying debts.

It's your contempt for another human being that I find despicable.
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The partner I left behind went through the PIA like I said and has by all accounts moved on with their life quite successfully in all fields.
I haven't bothered to contact them as they would likely prefer that I didn't.

I didn't "leave them behind" - we were long broken up and they were off doing their thing.

I think you're trying to rationalise your negative emotions towards me by clutching at straws that don't exist.
 
Your like a pack of dogs with that lad, and, I have to say, good on him for fighting his corner.

He may not have handled the situation correctly, but we haven't lived his life these last number of years, and so we don't have the right to slaughter him out.

Some of the attacking posts are absolutely disgraceful.
 
24601 said:
The funny thing is the OP keeps referring to the contract as if it allows for the eventuality of him defaulting and absconding without any effort to engage. His only interest in engaging now to to avoid "his" inheritance getting diluted/wiped out. He thinks his carry-on is victimless but he's clearly ignoring - either through stupidity or plain selfishness - the link between his actions and the cost to the rest of us through higher mortgage rates and taxes etc. And that's ignoring the fact that he left his former partner on the hook.
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Yes the contract made provisions for a default and the lender has fulfilled their obligations in respect of that and I'm currently seeking to do the same.
I made numerous attempts to engage at the time but they were not interested.

The fact that someone or something made the taxpayer responsible for the lender's bad debts is of no consequence to me or the contract I entered into. You'd like it to be, but it's not.
Cervelo said:
It's a pity you wouldn't do the same here and go back to what ever hole you crawled out of
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Please stop trying to derail the thread with ad hominems.
tallpaul said:
OP is just trolling at this stage and looking for a rise from posters. Nothing said will make a blind bit of difference. Time to close the thread Brendan.
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This is laughably pathetic.

What would make a difference is if I could find out more about the ins and outs of Judgements however those that might know seem to be reluctant to help and it seems to be because I have given the respect of not embroidering my story with sobs and appeals for sympathy.
Like is this a forum for financial information or for people to take out their frustrations on others?
 
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