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question

  • 18-10-2010 6:31pm
    #1
    teacherspet
    Registered Users, Registered Users 2 Posts: 206 ✭✭


    What happens to people who default on thier personal loans ? I would like to know because so many people are doing it.


Comments

  • #2
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    teacherspet wrote: »
    What happens to people who default on thier personal loans ? I would like to know because so many people are doing it.

    Could I ask whagt sort of loan is being defaulted on and for how much roughly.

    An example will do.


  • #3
    teacherspet
    Registered Users, Registered Users 2 Posts: 206 ✭✭teacherspet


    23,000 personal loan. At present paying 100 euro per month but bank looking for orignal 600 per month, which was orignal loan. On hardship payment at moment. Can not go to 600 as mortage more important. That would be a good example.


  • #4
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    Typically, the creditor sues in the Civil Courts. After a judgement is obtained against the debtor, it is registered and subsequently published. After that enforcement commences. A visit from the sheriff, judgement mortgage, instalment orders, garnishee etc.


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