court date for debt!!!

Baillie

The day has come where my business loan from credit union, I have since 2006 , has a court date. I closed my business in 2009 and got 35000 loan on 350 saving . There was no problem getting credit from them being in the boom times. Which now I live to regret everyday!!!
I'm terrific about the process and I'm scared to death of it all.
Got the summons in the post and I don't know what to do.
I don't own my own house all I have is my 2003 car. I'm no assets at all.
Does anyone have experience of this situation or advice on how to cope with this.
I've two children my husband works part time and we struggle from week to week!
Sorry for moaning but the stress of this gets too must.
I regret every day I went self employed!
There is just no help out there for us.

Baillie

Baillie wrote: »

The day has come where my business loan from credit union, I have since 2006 , has a court date. I closed my business in 2009 and got 35000 loan on 350 saving . There was no problem getting credit from them being in the boom times. Which now I live to regret everyday!!!
I'm terrific about the process and I'm scared to death of it all.
Got the summons in the post and I don't know what to do.
I don't own my own house all I have is my 2003 car. I'm no assets at all.
Does anyone have experience of this situation or advice on how to cope with this.
I've two children my husband works part time and we struggle from week to week!
Sorry for moaning but the stress of this gets too must.
I regret every day I went self employed!
There is just no help out there for us.

COURT DATE FOR DEBT!!!!! ( correction)

Pat Mustard

OP, if you and your husband can get about €3,500 together by some means or another, you can go and see a Personal Insolvency Practitioner (PIP) about a debt settlement arrangement. See explanation on the MABS website under 'Personal Insolvency'.

You can get free advice from MABS in any case. I'd definitely suggest that you should go there.

You could also go to see an accountant, or possibly a solicitor, to see who they might recommend to you or what course of action they might recommend.

conorh91

Presumably there has already been a judgment in this case. You're not actually contesting the debt are you?

Presumably you are ineligible for civil legal aid.

As there has been no settlement or mention of mediation, is it the case that you have no assets or income at all aside from those mentioned in the OP?

I would suggest you contact New Beginning but reading between the lines, it may be that very little will result from your appearance; you can't get blood from a stone.

Just be honest, and do try to get real-world advice if at all possible. Courts are generally sympathetic to debtors in your position.

Meauldsegosha

The Mustard wrote: »

OP, if you and your husband can get about €3,500 together by some means or another, you can go and see a Personal Insolvency Practitioner (PIP) about a debt settlement arrangement. See explanation on the MABS website under 'Personal Insolvency'.

You can get free advice from MABS in any case. I'd definitely suggest that you should go there.

You could also go to see an accountant, or possibly a solicitor, to see who they might recommend to you or what course of action they might recommend.

Some PIPs do the initial consultation for free. You can find a list of authorised PIPs on the Insolvency Service website - www.isi.gov.ie

Baillie

The Mustard wrote: »

OP, if you and your husband can get about €3,500 together by some means or another, you can go and see a Personal Insolvency Practitioner (PIP) about a debt settlement arrangement. See explanation on the MABS website under 'Personal Insolvency'.

You can get free advice from MABS in any case. I'd definitely suggest that you should go there.

You could also go to see an accountant, or possibly a solicitor, to see who they might recommend to you or what course of action they might recommend.

Rang mabs today and she was unbelievably helpful. She's coming out to me to discuss household budget to see what I can propose .
Thanks so much for comments!
All this is like a weight on my head and I'm lookin forward to dealing with it.
Already rang PiP a few months ago and if I had 3 and a half grand I'd do it straight away .
Or I'd even give it to credit union but the way things are that would be like throwing in at the wind!
Fingers crossed mabs will be able to guide me in the right direction and I'll be able to sleep properly at nite and not worry about it so much!!

Pat Mustard

MABS has a lot of experience with debt problems. Best of luck.