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Judgement against CA- consequences

  • 21-11-2010 7:42pm
    #1
    pman99
    Closed Accounts Posts: 2 ✭


    Hi there,
    i'm looking for advice regarding what happens if a fully qualified CA has a judgement registered against him. I believe i am in danger of losing my home, purchased 3 years ago- I am currently working in a large US multinational- I do not believe my job to be at risk, company has been here for many years and is very profitable & productive in Ireland- despite all my worries, and without wanting to go into any further details of my financial problems- my query is only if I can continue to work as a CA , registered with ICAI, should the bank secure a judgement against me- I was on interest only for 2 years and have been struggling to now pay the capital & interest element, having split from my partner- to date the bank is refusing to budge- I am 100k approx in negative equity- if I were unable to work as a CA, then this would obviously this would impact on my future earning potential. Not sure how it will work out but just want to be aware of what happens if judgement is registered against me.(i'm currently working on a payment proposal with my solicitor)
    Thanks for your help, it's a first post but was recommended as a great source of advice etc, thanks
    P
    P


Comments

  • #2
    ted2767
    Registered Users, Registered Users 2 Posts: 477 ✭✭ted2767


    I'm sorry I can't help you but I feel very sorry for the situation you're in I hope you find a way to sort out your issues.


  • #3
    Cookie_Monster
    Registered Users, Registered Users 2 Posts: 24,537 ✭✭✭✭Cookie_Monster


    talk to a solicitor, you're not allowed to ask for legal advice on her, nor is it allowed by given


  • #4
    Pandoras Twist
    Registered Users, Registered Users 2 Posts: 1,375 ✭✭✭Pandoras Twist


    surely the taxation forum is all legal advice?


  • #5
    Sand Wedge
    Registered Users, Registered Users 2 Posts: 226 ✭✭Sand Wedge


    Talk to your Institute, only they can tell you of the consequences regarding your CA status if a judgement is made against you!


  • #6
    viztopia
    Closed Accounts Posts: 770 ✭✭✭viztopia


    or if you dont want to talk to your institute then you could talk to John Mc Carthy who previously worked in practice advisory. www.jmcc.ie


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  • #7
    djk1000
    Closed Accounts Posts: 899 ✭✭✭djk1000


    This came up in conversation a while back, as far as I can remember, if it is a judgement, once you are up front and complete in your disclosure to the Institute and once the judgement isn't business related, you'll probably be fine. They'll want to see you keep up with whatever payment agreement comes out of the judgment and they'll want to know that it didn't happen because of dodgy dealing etc. If it was a bankruptcy, it would be taken much more seriously.

    Most important point here, is to tell the Institute as soon as it happens, there is no option there. They only thing that is for sure is keeping it secret would mean big trouble.


  • #8
    pman99
    Closed Accounts Posts: 2 ✭pman99


    Hi all,

    Thanks for all your responses, much appreciated - great to have some honest and genuine advice.
    Thanks again
    P


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