Installment order 7 years ago, not paid...

NeedWaterNow

Hi guys, long time lurker here and avid reader of the forums but just wanted to get opinions/advice on my situation.

Basically back in the day's 2005'ish I was made redundant, I had some loans out, maybe a 10K and 2 x 5K.

I was tormented at the time from the banks, I couldn't pay. I had judgements against me and then one bank brought me to court. Back then and still now I don't know very much about the law, but it was 2011 and I went to court. I probably shouldn't went as the '5 year rule' I've read about, but I did go, I was told to pay 10quid a week by the judge.

At the time I was out of work and still getting over my depression of my job and all my debts etc...

Anyway I never paid the installment order.

But right now I want to get back on the straight and narrow. I want to get my credit history back on track and get loans again and start living like I used to.

So, I'm sure the majority of the loans I got were sold on to agencies, and then the installment order I don't know what happens with that.

Any suggestions on what I should do about the installment order, should I contact their solictor ? The loans are dating back to 2003, haven't paid any since 2006'ish. The installment order was issued in 2011, 7 years ago....

Should I just ignore it all at this stage or contact the courts/solictor ?

Thanks in advance guys

sexmag

In 12 years you haven't paid a penny towards any outstanding debts, even with an installament order issued against you 7 years ago?

Did the bank not take you back to court for failure to pay?

Speak with a solicitor

NeedWaterNow

Thanks for the reply. That's right I never paid a penny. I was harassed by debt collection agencies etc... and just couldn't afford to pay when I had no job.
I moved from the country to Dublin so I never heard back from the bank/solictor. I probably should have went bankrupt at the time and be done with it but I didn't.
So now I don't know whether to let sleeping dogs lie or contact them again.

randomrb

NeedWaterNow wrote: »

Thanks for the reply. That's right I never paid a penny. I was harassed by debt collection agencies etc... and just couldn't afford to pay when I had no job.
I moved from the country to Dublin so I never heard back from the bank/solictor. I probably should have went bankrupt at the time and be done with it but I didn't.
So now I don't know whether to let sleeping dogs lie or contact them again.

I would say let sleeping dogs lie as I imagine if the figures werent massive that they have written the debt off on their books, however if you want to borrow again and start living like you used to its a whole different story. Even if you manage to pay back the debt there will be a serious black mark on your history.

You need to talk to a debt advisor more so than a solicitor as they will know the best course to take, once you know what is the best route get in contact with your solicitor

garhjw

Be and adult and pay your debts

Under His Eye

From a legal point of view the creditor only has 12 years from the date of the original judgement to enforce the judgement and any instalment order.

I agree let sleeping dogs lie.

schemingbohemia

Check your ICB record in the first instance

Under His Eye

+1

At this stage it will probably be erased due to the passage of time.

Let sleeping dogs lie.

NeedWaterNow

Thanks very much for all the replies, most have been very helpful and informative!

Looks like I'll just leave it be.

Just another question about this bank that took me to court. I'm 'nearly' sure they served a judgment on me in 2006 and in 2011 I had to go to court. So, does the 12 years start from 2006 when I got it by registered post, or start again from 2011 what I was in court and had the installment order against me ?

Also, I'll take the advice mentioned and order a copy of my credit report but will that show the dates of the judgments so at least I'll know for sure ?

Thanks again everybody for the information.

Under His Eye

The 12 years start in 2006. So it is likely the judgement has now run its course at this stage.

colm_mcm

I want to get my credit history back on track and get loans again and start living like I used to.

Lol.

sexmag

Under His Eye wrote: »

The 12 years start in 2006. So it is likely the judgement has now run its course at this stage.

The 12 years starts again from date of acknowledgement and if op was in court in 2011 then I would believe it starts from then

Under His Eye

Oh noes. You are incorrect.

Judgement is only enforceable for 12 years. Acknowledgements are dead and buried once it has been in court.

Lets explain this in simple terms.

They have 6 years from last acknowledgement or payment to go to court and get a judgement. Clock then stops.
They then have 12 years to enforce the judgment. Once that 12 years are up they are out of luck.

The person will still owe the money but there will be no legal means available to recover.

NeedWaterNow

colm_mcm wrote: »

Lol.

I'm glad you find it funny.

I had loans and credit card out for many many years before I was made redundant and always paid my debts on time.

Wasn't funny for me when I was paying 'protection' on loans and after filling in all the relevant documents required I was told it didn't cover redundancy, only if someone was out sick.

Wasn't funny for me when I tried my ass off to get employment and I couldn't as it was hitting the recession.

Wasn't funny for me when the bank sent someone to my house near 8pm in the night to question me.

Wasn't funny for me when I was getting judgments in the door and knowing my credit history was going to be demolished.

Wasn't funny for me when I was getting calls, texts and letters from debt collection agencies.

Also, the bank in particular that took me to court the original debt was in the region of 7k, when this ended up in court it raised to 12k... how I don't know, I never contacted a solicitor. It also wasn't funny to me when I was being grilled in court by their solicitor on 'what car do you drive, what year is it, how much do you drink per week, how much do you eat'......

All this had a knock on effect, there was no 'visa debit' cards in Ireland at the time, only debit or credit. So I couldn't order anything online. I tried to open a back account and couldn't.

So yes, I'd like to start living before this nightmare happened to me. I've opened a business recently and would like to rectify things so I can get back on track financially and for peace of mind and put this behind me.

But thanks for the 'lol' I can see why you have so many thousands of posts.

Gonad

Lol just means “Lots of loans “

Wesser

What do you need the money for? When you say live the life I used to.. What do you mean by This? Do you mean luxury goods etc?
I do not think it is prudent to borrow for these things....i think.it is better to save....

Mrs OBumble

Just save up for what you need abd then buy it .

Borrowing gor anything except housing is for fools.

NeedWaterNow

Mrs OBumble wrote: »

Just save up for what you need abd then buy it .

Borrowing gor anything except housing is for fools.

That's the ultimate goal to be honest. All these years I've saved for anything I needed. Right now I'm after opening a business and bought a decent car last year. But I'm after putting the last of my saved cash in the business. I'd like to upgrade my car in the next year or so do it' doesn't devalue too much and as you said buy a house if possible. Being paying scandalous rents now for a few years too.

I do appreciate what you're saying though.

sexmag

In all honesty your credit rating will be shot forever to come.

Save and buy is your way forward mate. Personally that is

Business wise and being a business owner may be different

Twenty Grand

Gonad wrote: »

Lol just means “Lots of loans “

Lots of liability.
Lots of litigation.
Loss of liberty.

NeedWaterNow

sexmag wrote: »

In all honesty your credit rating will be shot forever to come.

I didn't know that. I thought after the judgment expired and was removed from my history things would be different. But if my rating is fecked forever then I'll just have to continue the way I've been going.

I often look back on how this happened and if I could have done things different but I don't think I could have. All I could have done was go bankrupt and after that my credit rating would still probably have been messed up, but again I'm only guessing, I have no legal knowledge.

Wesser

If you have a decent car then no need to upgrade it.
I think you should avoid borrowing money if at all possible.
All the money that you didn't pay off is passed onto the rest of us in the form of higher interest rates.

listermint

Smart people especially those running businesses should realise a car is not an asset.

You need to ditch this nonsense about not devalue too much and avoid buying a new car until you have the means to. It's not and asset the value is not retained in it.

Keep your car and be smarter with the money.

mirrorwall14

No record like you, great household income, one car loan on the husbands car, reasonable mortgage but my car is 12 years old and won’t be upgraded until absolutely unavoidable or the other car loan is over. We keep a very tight reign on our finances.

Save towards the replacement cost of your car when it becomes necessary rather than upgrading on credit because you think it’s devaluing. Particularly when you are minding credit history and starting a new business

sexmag

NeedWaterNow wrote: »

I didn't know that. I thought after the judgment expired and was removed from my history things would be different. But if my rating is fecked forever then I'll just have to continue the way I've been going.

Just because time elapses doesnt mean you get a restart, records are kept for a reason and the fact a judgement order was made and albeit not enforcced by the recipient doesn't mean your records get wiped clean.

If they did you'd start like a first timer again which may not get be good.

Maybe under gdpr it might be different but a legal eagle with GDPR can confirm that

my3cents

sexmag wrote: »

Just because time elapses doesnt mean you get a restart, records are kept for a reason and the fact a judgement order was made and albeit not enforcced by the recipient doesn't mean your records get wiped clean.

If they did you'd start like a first timer again which may not get be good.

Maybe under gdpr it might be different but a leaf eagle with GDPR can confirm that

Records are kept but if they aren't kept on a database that anyone checks against then it won't show up.

So you go for a loan and you are saying there is a system that checks for court judgments before you get a loan?

sexmag

my3cents wrote: »

Records are kept but if they aren't kept on a database that anyone checks against then it won't show up.

So you go for a loan and you are saying there is a system that checks for court judgments before you get a loan?

Eh....the ICB maybe? The people who keep a record of people's credit history....which most institutions use when people ask for credit

my3cents

sexmag wrote: »

Eh....the ICB maybe?

I thought they only kept records for 6 years?

Sorry 5 years

The Irish Credit Bureau's database will only hold information about you if you have had an active loan in the past 5 years and if your lender has provided information to the ICB. All records remain on the database for 5 years once the loan has been closed, whether you repaid the debt or not.

sexmag

my3cents wrote: »

I thought they only kept records for 6 years?

Sorry 5 years

Then maybe ops in the clear but I doubt there's a get out of jail card for debts that have been ordered by courts that haven't been repaid at all.

Seems quite counter productive.

my3cents

sexmag wrote: »

Then maybe ops in the clear but I doubt there's a get out of jail card for debts that have been ordered by courts that haven't been repaid at all.

Seems quite counter productive.

Why because you want the OP to have to pay for his mistakes for the rest of his life?

glic71rods46t0

NeedWaterNow wrote: »

I'm glad you find it funny.

I had loans and credit card out for many many years before I was made redundant and always paid my debts on time.

Wasn't funny for me when I was paying 'protection' on loans and after filling in all the relevant documents required I was told it didn't cover redundancy, only if someone was out sick.

Wasn't funny for me when I tried my ass off to get employment and I couldn't as it was hitting the recession.

Wasn't funny for me when the bank sent someone to my house near 8pm in the night to question me.

Wasn't funny for me when I was getting judgments in the door and knowing my credit history was going to be demolished.

Wasn't funny for me when I was getting calls, texts and letters from debt collection agencies.

Also, the bank in particular that took me to court the original debt was in the region of 7k, when this ended up in court it raised to 12k... how I don't know, I never contacted a solicitor. It also wasn't funny to me when I was being grilled in court by their solicitor on 'what car do you drive, what year is it, how much do you drink per week, how much do you eat'......

All this had a knock on effect, there was no 'visa debit' cards in Ireland at the time, only debit or credit. So I couldn't order anything online. I tried to open a back account and couldn't.

So yes, I'd like to start living before this nightmare happened to me. I've opened a business recently and would like to rectify things so I can get back on track financially and for peace of mind and put this behind me.

But thanks for the 'lol' I can see why you have so many thousands of posts.

While you have not revealed your entire journey in the 12 years or so, it would appear that you have had the means to pay back your debts but chose to get a decent car and invest in your own business instead. Im sure it will be lol time when your customers decide to prioritize a nice car over paying their debts to your business. It will be lol time when listening to their sob stories and why they cant pay you coz "life got in the way" ... LOL indeed

Under His Eye

ICB has been replaced with the central credit register.

Like it or not details are erased after 6 years from the ICB/CCR. I know it upsets the "Morals Police" who want people to pay for their sins for their entire lifetime.

Once a case has been in court nothing can reactivate it for ICB purposes.

NeedWaterNow

Wesser wrote: »

If you have a decent car then no need to upgrade it.
I think you should avoid borrowing money if at all possible.
All the money that you didn't pay off is passed onto the rest of us in the form of higher interest rates.

I'm going to try and avoid borrowing in future for non essential things. I'm sorry if it was passed on to you - the higher interest rates but it's just the way Ireland is. I have many years no claims bonus and my insurance has gone up from €400 a year to nearly €800 a year. That's a big hike but nothing I can do about it.

listermint wrote: »

Smart people especially those running businesses should realise a car is not an asset.

You need to ditch this nonsense about not devalue too much and avoid buying a new car until you have the means to. It's not and asset the value is not retained in it.

Keep your car and be smarter with the money.

Maybe I phrased it a bit wrongly. I travel about 60 kilometres a day for work, so I need a car that will get me there and back and not give me too much trouble. A friend of mine who is very successful and drives a brand new car ever year told me to upgrade my car every 2 years or so. I decided I want to take his advice.

nei1gydlmus6o9 wrote: »

While you have not revealed your entire journey in the 12 years or so, it would appear that you have had the means to pay back your debts but chose to get a decent car and invest in your own business instead. Im sure it will be lol time when your customers decide to prioritize a nice car over paying their debts to your business. It will be lol time when listening to their sob stories and why they cant pay you coz "life got in the way" ... LOL indeed

You're right I haven't revealed my entire journey so you don't know nothing about me. What I will say is I didn't have the money to repay back for many years, I do now. Most has been sold on to debt collection agencies.

You're basically trolling this tread like a jealous idiot. I asked here for some advice on a situation. I didn't ask for a running commentary from an idiot like you.


Guys, for those that pointed me in the right direction and shared some good legal knowledge and opinions thanks very much! There are some really decent knowledgeable people here and that's why I asked here on the forums. It's unfortunate the good people are in the minority here on boards. The majority are the clowns that will have to argue about pointless things that don't concern them. If I asked 'is this color black,' and in fact it was, you'd have to say 'no it's dark grey' and so on and so forth.

To the folks who gave helpful replies, thanks again