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Ulster Bank are threatening me

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    #32
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    patwicklow wrote: »
    dont let them get to you with there treats iv had all that aswell and i can tell you the stress it can put on you and your family are unbearable and you only owe them 10k i owed 90k, 1st thing make an appointment with m.a.bs i promise you they are great your on the dole so they will break down all your monthly household expences esb ,phone,heating travel ect ect and ask them to set up an account so you can pay the monthly installments into via credit union and mabs then forward to payments on to the fatcat banks so for a 10k loan id say you will end up paying €20-€25 aweek so listen dont let them get to you. they cant get blood out of a stone and dont get stressed out if you get to mabs during next week i promise you will be feeling better this time next week good luck..

    Probably illustrates your fine attidute towards money. :rolleyes:

    Would barely cover the interest on a 10k loan. :rolleyes: In fact for most personal loans it probably wouldn't.


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    #33
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,908 Admin ✭✭✭✭✭Toots


    Chipboard wrote: »
    No they can't. You can not be jailed in Ireland for non payment of debt. A bank can get a judgement against you and then they have a number of options. One of these is getting an instalment order. If the court grants an instalment order for you to pay say €20 per month and you don't pay it the bank can seek a committal order and you can be jailed - for breach of a court order, not for failing to repay the debt. There is a difference.
    Technically there is a difference, but the long and short of it is, if you don't pay, you can go to jail. As far as the person paying back is concerned, they still have to part with money, and if they don't the consequences can still be the same.
    That said it can happen, but I would imagine (and I'm open to correction on this) that it would only get that bad if the customer simply refused to or was unable to make any sort of payment at all.


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    #34
    patwicklow
    Registered Users Posts: 1,937 ✭✭✭patwicklow


    stepbar wrote: »
    Probably illustrates towards money. :rolleyes:

    Would barely cover the interest on a 10k loan. :rolleyes: In fact for most personal loans it probably wouldn't.

    yes i know that but when a person loses there job how can anyone pay the amount thats outstanding.you see banks dont understand that do they
    it would be the amount of payment untill a person gets back on there feet
    look at all the the ones that owe millions and what do the banks do??
    yes take them out to dinner wine and dine them dont get me started
    i know alot about how banks operate believe you me.


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    #35
    rugbyman
    Registered Users Posts: 1,783 ✭✭✭rugbyman


    GSX
    I agree largely with PatWicklow.
    do not accept the new proposal until you see MABS. you mention a mortgage and credit card debt as well as this personal loan. The whole scenario must be looked at.
    Also check your credit rating. you have mentioned this several times. It may well be impaired and once damaged it is very,very difficult if not impossible, to heal.

    if ,as i suspect it is already impaired, then you have little to lose in that department and you can negotioate accordingly.

    The bank staff you are dealing with prob havethe worst jobs in the bank, dealing with all those who are in trouble, and believe me , you are not in much trouble.
    these bank staff are paid to try and get the banks money back. Some will try anything to get you to pay more than you can afford and some are reasonable.
    best of luck, rely on Mabs, they are good

    regards, rugbyman


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    #36
    Chipboard
    Closed Accounts Posts: 428 ✭✭Chipboard


    Toots* wrote: »
    Technically there is a difference, but the long and short of it is, if you don't pay, you can go to jail. As far as the person paying back is concerned, they still have to part with money, and if they don't the consequences can still be the same.

    Its always amazes me how many people on these boards put up posts on subjects which they obviously no nothing about. You can't be jailed for non payment of debt, period.

    If a court grants a judgement against you and then the Bank seek an instalment order, the court clerk will write to you seeking a statement of means. If this shows that you have a monthly surplus of say €10, the judge will probably grant an instalment order for this amount. Remember that this can and often does happen even in cases where the monthly interest is higher than this so its a good idea to keep it in mind that although the
    debt collector (read; solicitor who can't get a real job) will lead you to believe that he has the upper hand, the reality is that he doesn't. Interest alone on a €15k term loan would come to around €100 a month so if the solicitor succeeds in getting an instalment order for €50 he is no further ahead.

    Judges don't tend to grant instalment orders for more than the persons monthly surplus unless they believe the person has submitted a false statement of means. The reason for this is that they are conscious that if the Bank seeks a committal order they may have to jail you if you don't pay and judges don't like jailing people at the behest of banks. Even when you could be jailed for breaching an instalment order it was for a much smaller amount than the actual debt. If you refer to the second paragraph of my earlier post you will see that for the moment, committals to jail on this basis are a thing of the past.

    So, you can't be jailed for non payment of debt - period.

    It would be good if you didn't mislead people who are beset by financial worries into thinking they are going to end up in jail. Its bad enough without that. Its far more constructive to suggest positive things they can do to help themselves. Everyone should remember that Messrs McNamara, Dunne, Kelly etc etc aren't losing too much sleep over this so its a good idea to keep these things in perspective.


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    #37
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,908 Admin ✭✭✭✭✭Toots


    Chipboard, if you read my post again, the word can was in inverted commas, I didn't state anywhere that if you simply stopped paying your loan you'll just go to jail straight off. I said that I believed it is possible (whether likely or not is beside the point). To the best of my knowledge, if you were brought to court, failed to pay installment order etc, there is a possibility that you can be jailed. I was unaware that procedure had changed. Just out of my own interest, could you link me to something that gives more details on when the situation changed regarding being jailed for non payment of instalment orders? I'd be interested to give it a read and get more info.

    I would ask that you refrain from making comments such as this, it's not helpful to anyone.
    debt collector (read; solicitor who can't get a real job)


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    #38
    carbsy
    Registered Users Posts: 2,082 ✭✭✭carbsy


    Just to clarify, you can't be jailed for not paying a debt.Just brought before the courts and possibly have a judgement brought against you if you have the capacity to pay and do not do so....


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    #39
    Christine45
    Closed Accounts Posts: 22 ✭Christine45


    OP, you have received good advise from PatWicklow and Chipboard.

    I have a debt of 20k that I simply cannot pay off at the moment. I've now lost my job and am doing my best to keep afloat by paying credit union and my mortgage.

    Like others I too was terrified of court or possible jail.

    What Carsby has said is correct. To cut a long story short I was lucky to finally get an understanding person in the bank. They told me that they only bring people to court who are refusing to come to some sort of arrangement.

    I have now started the ball rolling by making an offer of reduced payments that I can afford. The bank have yet to agree to this but from what I have heard its more than likely they will agree.

    OP, I hope everything works out for you.


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