MABS made things worse for me does anyone know of any agency that REALLY helps???

rupamede · 29-11-2010 09:33PM #1

MABS made things worse for me
I went into MABS 2 months ago.
**This was advised by both creditors (Ulster Bank and Credit Union) I am owing money to.
The MABS guy did help me with a budgeting plan which he then sent to the Ulster Bank and the Credit Union, and instructed me to start paying both creditors the amounts he came up with. He also promised me he would act on my behalf to take the stress off my back. Now, after 2 months of a very unusual silence, the Ulster Bank sends me a letter in which they do not acknowledge receipt of MABS's letter and threaten to take me to Court if I don't pay the arrears by December 13th.
So I phoned the MABS guy and he told me he got the same reply from the UB and a similar letter from the Credit Union in which the Credit Union said they weren't going to deal with MABS at all - please note this is after the CU themselves referred me to MABS! So now the MABS guy says I have to contact the creditors myself and sort out the mess! He will not negotiate a better plan with them, he says he will not make any changes to the plan because that would be admitting there was something wrong with the plan he sent. This inflexibility does not make sense for someone who on my 1st meeting said he would act on my behalf etc... And he did say he would deal with the creditors as I live in a rural area and they're not as busy as they would be otherwise.
I am wondering is there an agency that actually deals/negotiates with creditors... As I said, this MABS guy did tell me he would when I first met him but now he is telling me to contact them myself, which is exactly the hassle and stress I was trying to avoid due to my health problems! Is this the way MABS really works? If it was difficult for me to meet my repayments in the past, now with about 2 months arrears and the UB threatening to take me to Court, I do not know how I will be able to cope! For me, going to MABS actually made things worse . Could someone please advise? Is there any REAL HELP available out there?
Thanks, RM

foggy_lad · 29-11-2010 10:40PM

It is very unusual that after addvising you go to the Money Advice And Bugeting Service the Credit Union and bank would then refuse/turn down the budgeting plan drawn up for you especially as the Credit Union are usually represented on the local committees of MABS.

you could ask that your case be forwarded on to the regional committe with responsibility for your local area and ask that they look at it and see if there is any reason the bank and particularly the Credit Union would refuse to accept your repayment plan.

dudara · 29-11-2010 10:59PM

Moved to Banking & Insurance & Pensions

dudara

rupamede · 29-11-2010 11:20PM

Hi Foggy lad, thanks for your reply. When you say I could ask for a regional committee, are you referring to a MABS committee or an UB or CU committee?
Thanks a mil. All help welcome.
R.

foggy_lad wrote: »

It is very unusual that after addvising you go to the Money Advice And Bugeting Service the Credit Union and bank would then refuse/turn down the budgeting plan drawn up for you especially as the Credit Union are usually represented on the local committees of MABS.

you could ask that your case be forwarded on to the regional committe with responsibility for your local area and ask that they look at it and see if there is any reason the bank and particularly the Credit Union would refuse to accept your repayment plan.

rupamede · 29-11-2010 11:40PM

I agree with Stepbar. Here is an account of my experience with MABS:
ABS made things worse for me
I went into MABS 2 months ago.
**This was advised by both creditors (Ulster Bank and Credit Union) I am owing money to.
The MABS guy did help me with a budgeting plan which he then sent to the Ulster Bank and the Credit Union, and instructed me to start paying both creditors the amounts he came up with. He also promised me he would act on my behalf to take the stress off my back. Now, after 2 months of a very unusual silence, the Ulster Bank sends me a letter in which they do not acknowledge receipt of MABS's letter and threaten to take me to Court if I don't pay the arrears by December 13th.
So I phoned the MABS guy and he told me he got the same reply from the UB and a similar letter from the Credit Union in which the Credit Union said they weren't going to deal with MABS at all - please note this is after the CU themselves referred me to MABS! So now the MABS guy says I have to contact the creditors myself and sort out the mess! He will not negotiate a better plan with them, he says he will not make any changes to the plan because that would be admitting there was something wrong with the plan he sent. This inflexibility does not make sense for someone who on my 1st meeting said he would act on my behalf etc... And he did say he would deal with the creditors as I live in a rural area and they're not as busy as they would be otherwise.
I am wondering is there an agency that actually deals/negotiates with creditors... As I said, this MABS guy did tell me he would when I first met him but now he is telling me to contact them myself, which is exactly the hassle and stress I was trying to avoid due to my health problems! Is this the way MABS really works? If it was difficult for me to meet my repayments in the past, now with about 2 months arrears and the UB threatening to take me to Court, I do not know how I will be able to cope! For me, going to MABS actually made things worse . Could someone please advise? Is there any REAL HELP available out there?

stepbar wrote: »

Thus my point. If I was a bank or otherwise, a nice worded letter would be going out to Dunne and Maxwell politely telling them to Fcuk Off. As for MABS, whilst they have no legal standing they have the benefit of government backing and funding etc. I could also tell them to politely Fcuk Off but I guess under the spirit of the IBF rules I'd be more inclinded to negotiate with them.

Sponge Bob · 29-11-2010 11:43PM

Did you get a LETTER with the budgeting plan from MABS, get that first dated last month or whenever it was worked out.

Then check whether the Credit union got it and UB.

If they did and refuse to run with it they will not get very far in court if you are willing to abide by it.

If they did not complain to the manager of that MABS ...or higher in MABS and get it sent out again, I reckon the particular MABS worker ballsed up and will not admit it.

rupamede · 30-11-2010 12:06AM

Hi Sponge Bob,
Thank you for your advice. I phoned both the CU and the UB today and they confirmed they got it and that they sent it back to MABS, that is, they rejected the plan.
Yes, I am willing to abide by it, I have been sending the CU and the UB the funds agreed with MABS. Do you really think they will not get far in Court? I guess you might be right, after all, I AM sending them some money, it's not as if I do not want to pay...

As far as I know, nobody complained to the manager of MABS... But do you mean I should complain or are you referring to the UB or CU? Yes, I agree when you say he may have ballsed it up and won't admit it. Am I wrong in thinking he should be trying to renegotiate with the creditors? Would that not be the normal thing to do? Instead, he remains adamant, inflexible that his plan is right and that I should go and meet my creditors and not let them manipulate me etc... But that is exactly what they will try to do! And me being a simple citizen I will not know how to deal with them. Would I also be wrong in thinking this guy should have coached me on how to deal with them not just tell me 'stick to your guns' like he did... This is why I am asking people on here if there is actually some other agency that will work better for you. The impression I get is that this MABS guy in particular just couldn't care less and just won't be bothered but then again maybe I am being unfair to the man... As I said, this is just the impression I'm getting...

Sponge Bob wrote: »

Did you get a LETTER with the budgeting plan from MABS, get that first dated last month or whenever it was worked out.

Then check whether the Credit union got it and UB.

If they did and refuse to run with it they will not get very far in court if you are willing to abide by it.

If they did not complain to the manager of that MABS ...or higher in MABS and get it sent out again, I reckon the particular MABS worker ballsed up and will not admit it.

kaiser sauze · 30-11-2010 12:37AM

stepbar, your attitude is a microcosm of the problems many people have in dealing with lenders. Banks are entitled to their money back, but if someone owes 10k, and they are on the dole, they are not going to pull 10k out of their arse despite all the letters in China. If all banks have your attitude to a State body, specifically designed to help the public deal with their debts, then MABS is a horrific waste of money.

Luckily though, your attitude is not prevalent and where a reasonable offer is put to creditors, backed by MABS, they are more likely to accept them as a subsequent day in court while turning down a good offer is going to mean a grouchy judge dealing with a case s/he feels had already been handled.

---

rupamede, your situation seems very unusual, you can ask for a paper trail from your MABS office and confirm that it is not staff ineptitude. Even though the lender is threatening you with further action, ensure you are making the payments that you offered on your MABS deal.

Dempo1 · 30-11-2010 01:01AM

There is a very simple approach to dealing with debt issues, Immediately go to Mab's, even if you are on a waiting list. The bottom line here is that is Creditors decide to bring debtors to court, a statement of means is required and the District court will take this into account. In addition the district courts highly regard MAB'S as they are recognized as a state sponsored intermediary service. Quite frankly any creditor would be extremely foolish to ignore or accept a plan worked out by MAB'S as the reality is the district court will in all certainty enforce Mab's Plan and the creditor can sing all they want to no avail. It is also important to note that debtors should respond to treats from debtors particularly if they intend pursuing an Installment order. Being completely honest by way of a statement of means affidavit is critical and the Judge will make an installment order based on the debtors means. It is also important to note that once the installment order is made, no matter how small the monthly payment is, the Creditor or their agents can in noway interfere against the order and not make contact with the debtor unless the installment order is broken.

As for these debt management companies, they charge fees and whilst i am sure there are some companies with good reputations, the harsh reality is that Banks etc don't take them seriously and there are fees applicable, not always affordable by the debtor in the first place. Mab's is free.

The OP's concern about Ulster Bank and credit union is unfounded, these vultures will utlimately have to accept the courts decision, the days of bully boy tatics are long gone!

30lady · 30-11-2010 01:07AM

I don't see how mabs ballsed it up only that maybe they should have told you what to say to the bank/credit union when they are putting the pressure on you. If you did your budget with MABS and have come up with a payment plan that is affordable for you then that really is the best you can do in your circumstances and the credit union and bank are just trying to frighten and bully you into increasing your payment. The guy from MABS is dealing with this all the time I imagine so I would go with his advice TBH. If you pay higher than what you come up with through MABS you are basically saying that the first budget was untrue and then you'll probably be leaving yourself short on the basics like food, heat.

I suggest you stay paying the amount worked out with MABS whether they accept it as a repayment plan or not and ask MABS to write to them again. If they phone you or if you are in the Credit union and they question you just say that you are doing the best you can and are working with MABS as they suggested. Short and sweet.

MABS or any other agency can't stop a creditor bringing you to court, but with your mabs budget and if you are making your payments as planned, you'll be well prepared and the judge will look at the mabs budget.

stepbar · 30-11-2010 01:26AM

kaiser sauze wrote: »

stepbar, your attitude is a microcosm of the problems many people have in dealing with lenders. Banks are entitled to their money back, but if someone owes 10k, and they are on the dole, they are not going to pull 10k out of their arse despite all the letters in China. If all banks have your attitude to a State body, specifically designed to help the public deal with their debts, then MABS is a horrific waste of money.

Luckily though, your attitude is not prevalent and where a reasonable offer is put to creditors, backed by MABS, they are more likely to accept them as a subsequent day in court while turning down a good offer is going to mean a grouchy judge dealing with a case s/he feels had already been handled.

Hold on.... :rolleyes:

I am mearly pointing out the standing that these organisations have in law and that banks do not have to engage with them at all. PARTICULARLY the likes of Dunne & Maxwell.....

Did you not read rupamede's post? Not every case referred to MABS ends up positive. If a plan is not realistic it will be rejected. It's a bit like a friend owing you a bit of money and he offered to pay you 20 eur a week. You know damm well he could pay 30 eur a week. You disagree. Such is life. Except the bank hold all the cards... after all it's money owed to them. It's not unreasonable to push for the best outcome.

kaiser sauze · 30-11-2010 01:36AM

stepbar wrote: »

kaiser sauze wrote: »

stepbar, your attitude is a microcosm of the problems many people have in dealing with lenders. Banks are entitled to their money back, but if someone owes 10k, and they are on the dole, they are not going to pull 10k out of their arse despite all the letters in China. If all banks have your attitude to a State body, specifically designed to help the public deal with their debts, then MABS is a horrific waste of money.

Luckily though, your attitude is not prevalent and where a reasonable offer is put to creditors, backed by MABS, they are more likely to accept them as a subsequent day in court while turning down a good offer is going to mean a grouchy judge dealing with a case s/he feels had already been handled.

Hold on.... :rolleyes:

I am mearly pointing out the standing that these organisations have in law and that banks do not have to engage with them at all. PARTICULARLY the likes of Dunne & Maxwell.....

Did you not read rupamede's post? Not every case referred to MABS ends up positive. If a plan is not realistic it will be rejected. It's a bit like a friend owing you a bit of money and he offered to pay you 20 eur a week. You know damm well he could pay 30 eur a week. You disagree. Such is life. Except the bank hold all the cards... after all it's money owed to them. It's not unreasonable to push for the best outcome.

You also projected what you said about the likes of D&M onto MABS.

To the red highlighted part: No, they don't. Hate to break it to you.

kaiser sauze · 30-11-2010 01:39AM

OK, what has happened to this thread? Specifically, stepbar's earlier posts?

Anyone · 30-11-2010 12:19PM

MABS are not a negotiating service. They are actually there to assist people who have issues managing their money. Last few years though, people seem to assume they should be negotiating terms with their creditors on their behalf, thats not their function at all.

No creditor has to accept MABS proposals either. As for the paid budgeting services(ie Dunne & Maxwell) they are pretty useless and their only objective is to get paid from the debtor.

juxyjones · 30-11-2010 05:50PM

I just want to briefly post my experience with Dunne and Maxwell, i was paying 200euro a month to 3 diff institutions for re payments.
I missed 2 months for all 3 an was in a bit of bother so rang these guys up
went through all my out going etc etc and they said that they coudl help.
first i had to cancel all direct debits, do not answer the phone to these institutions and to send on any letters to them.
they said they would negotiate onmy behalf,get interest frozen on credit card etc.
my 'plan' was 600 a month..200 to each. one of the institutions said they woudlnt deal with them, so i had to re set up direct debit with them,and was now 3 months behind with them!
the other 2 kept ringing and sending letters, i made my first payment of 600 to dunne and maxwell,under the impression that this money goes to them right away, it didnt, i rang them and they said this fee was for 'set up costs' for them (to send a few letters requesting balances owed)
i wasnt happy wit this, i asked them then so next month they will get a payment, they said no they take 2 months of your 'plan' for set up fees, then the 3rd month the institutions would get a re payment.
After talking to a few people, basically they were getting me to default on my loans, once this happens they swoop in and 'negotiate' on ym behalf, iwasnt in the much of a bad situation in the first place, they should have told em this and advised me to just face them myself.
but they didnt, and took 600 euro and would have taken another 600 if i hadnt hav cancelled the standing order, i then rang the companies i owed money too and sorted ti myself, unless you are really in a bad way and are ok defaulting on your loans and ebing added to the credit bureau black list for 5 years, please stay away frm dunne and maxwell

it was a very harsh lesson i had to learn, i asked bout the 600 i sent them and was told nope i wotn get this back cos 7 day cooling off period was gone, i wasnt aware of this either...i could hav used that 600 to pay off the people i owed money too, but instead gave it to dunne and maxwell all the while falling further behind into arears!
it still nearly makes me cry..but dont use them unless you really have too!!!!

stepbar · 30-11-2010 09:42PM

kaiser sauze wrote: »

You also projected what you said about the likes of D&M onto MABS.

To the red highlighted part: No, they don't. Hate to break it to you.

Mmmm.... So I guess the threat of a judgement / bankruptcy wouldn't make you take matters seriously :rolleyes:

I sure wouldn't want either arriving at my doorstep.

kaiser sauze · 30-11-2010 10:33PM

stepbar wrote: »

Mmmm.... So I guess the threat of a judgement / bankruptcy wouldn't make you take matters seriously :rolleyes:

I sure wouldn't want either arriving at my doorstep.

Have you any idea how difficult it is for lenders to enforce a bankruptcy? :rolleyes:

Many people have judgements registered against them on a daily basis, it still does mean that the lender magically gets their money back. When it comes to enforcing that judgement, the judge will not leave the borrowers destitute and many lenders are now realising that seeking judgments, and enforcing them, are counterproductive as the borrower only has a cumulative higher amount to pay back, which is at the very least counter-productive, and at most, inhuman. Added to that, tiny sums are being applied on enforcement orders to those who are of limited means.

Like I said, banks do not hold all the cards, if people don't have the money no trick of the court will make it magically appear.

stepbar · 30-11-2010 11:56PM

Jesus holy Christ..... the money is not the point I'm making.... however it doesn't go away either. Personally I would be embarrassed and mortified if there was a judgement registered against me. Bankrupcy does not bare thinking about. Financial institutions have the power to make your life very hard.... Need a loan / overdraft in the future? Forget it.... Need a mortgage? No way.

No lender is going to enforce a bankrupcy over a piddly amount like €10k. But they might over a million (and less).

kaiser sauze · 01-12-2010 12:46AM

stepbar wrote: »

Jesus holy Christ..... the money is not the point I'm making.... however it doesn't go away either. Personally I would be embarrassed and mortified if there was a judgement registered against me. Bankrupcy does not bare thinking about. Financial institutions have the power to make your life very hard.... Need a loan / overdraft in the future? Forget it.... Need a mortgage? No way.

No lender is going to enforce a bankrupcy over a piddly amount like €10k. But they might over a million (and less).

I thank you for backing down from your statement that banks are all powerful and that debtors have no options when dealing with their debts.

The results of bankruptcy are being frozen out of the credit market for years and the inability to hold a directorship. Not the end of the world, and bankruptcy is uncommon.

There is no such restriction on the person who is on the receiving end of a judgement.

stepbar · 01-12-2010 01:21AM

kaiser sauze wrote: »

I thank you for backing down from your statement that banks are all powerful and that debtors have no options when dealing with their debts.

The results of bankruptcy are being frozen out of the credit market for years and the inability to hold a directorship. Not the end of the world, and bankruptcy is uncommon.

There is no such restriction on the person who is on the receiving end of a judgement.

Backing down from what? Where's that statement you talk of? :rolleyes: Where did I say that debtors have no options with dealing with their debt?

The remedies are punitive. Bankruptcy is becoming more common and will be for many years to come. 12 years to come out the other end of a bankruptcy. Wouldn't want that hanging over my head. And as for the notion that there is no restriction on a person(s) who is/are on the receiving end of a judgment is nonsense. The court can make life difficult if they see fit. The banks can make life difficult, and put obstacles in your way, drag you through court etc. They don't have to agree to anything (more power to those who have same agree to a settlement). Your credit history will be shot to pieces for 5 years. And then there's the embarrassment of it all. But I guess it takes a bit to embarrass people these days.... :rolleyes:

And to be honest, banks who get burned once by a customer will not be in a mad rush to open another account / provide a facility in 5 years time. In a worse case scenario, you might not be able to open an account. Fine if you don't plan to borrow another penny for a good while or skip the country, but most don't have that luxury.

Dempo1 · 01-12-2010 01:48AM

juxyjones wrote: »

I just want to briefly post my experience with Dunne and Maxwell, i was paying 200euro a month to 3 diff institutions for re payments.
I missed 2 months for all 3 an was in a bit of bother so rang these guys up
went through all my out going etc etc and they said that they coudl help.
first i had to cancel all direct debits, do not answer the phone to these institutions and to send on any letters to them.
they said they would negotiate onmy behalf,get interest frozen on credit card etc.
my 'plan' was 600 a month..200 to each. one of the institutions said they woudlnt deal with them, so i had to re set up direct debit with them,and was now 3 months behind with them!
the other 2 kept ringing and sending letters, i made my first payment of 600 to dunne and maxwell,under the impression that this money goes to them right away, it didnt, i rang them and they said this fee was for 'set up costs' for them (to send a few letters requesting balances owed)
i wasnt happy wit this, i asked them then so next month they will get a payment, they said no they take 2 months of your 'plan' for set up fees, then the 3rd month the institutions would get a re payment.
After talking to a few people, basically they were getting me to default on my loans, once this happens they swoop in and 'negotiate' on ym behalf, iwasnt in the much of a bad situation in the first place, they should have told em this and advised me to just face them myself.
but they didnt, and took 600 euro and would have taken another 600 if i hadnt hav cancelled the standing order, i then rang the companies i owed money too and sorted ti myself, unless you are really in a bad way and are ok defaulting on your loans and ebing added to the credit bureau black list for 5 years, please stay away frm dunne and maxwell

it was a very harsh lesson i had to learn, i asked bout the 600 i sent them and was told nope i wotn get this back cos 7 day cooling off period was gone, i wasnt aware of this either...i could hav used that 600 to pay off the people i owed money too, but instead gave it to dunne and maxwell all the while falling further behind into arears!
it still nearly makes me cry..but dont use them unless you really have too!!!!

Jesus christ, if the above is not the definition of extortion, what is? HTF are these ****ers permitted to get away with this?

kaiser sauze · 01-12-2010 01:54AM

stepbar wrote: »

Backing down from what? Where's that statement you talk of? :rolleyes: Where did I say that debtors have no options with dealing with their debt?

The remedies are punitive. Bankruptcy is becoming more common and will be for many years to come. 12 years to come out the other end of a bankruptcy. Wouldn't want that hanging over my head. And as for the notion that there is no restriction on a person(s) who is/are on the receiving end of a judgment is nonsense. The court can make life difficult if they see fit. The banks can make life difficult, and put obstacles in your way, drag you through court etc. They don't have to agree to anything (more power to those who have same agree to a settlement). Your credit history will be shot to pieces for 5 years. And then there's the embarrassment of it all. But I guess it takes a bit to embarrass people these days.... :rolleyes:

And to be honest, banks who get burned once by a customer will not be in a mad rush to open another account / provide a facility in 5 years time. In a worse case scenario, you might not be able to open an account. Fine if you don't plan to borrow another penny for a good while or skip the country, but most don't have that luxury.

Is there some amulet that people who have judgements registered against them are made wear? Your post makes me wonder! Maybe it is a trademark, burned onto their foreheads? Can I have a picture of this mark, I have yet to see one?

You completely ignored what is happening when the enforcement of a judgment on a person of limited means occurs. The banks are getting so little from them, it is barely worth their while. They do not extract anymore out of going through a judge, than via MABS, or acting like an adult and dealing with the debtor direct and accepting their offers.

Dempo1 · 01-12-2010 02:29AM

This thread is getting a little heated. The facts are quite simple.

Firstly MABS quite frankly are the only option for those seeking debt advice in the first instant and negotiating a repayment schedule in the second. It is true Lenders can ignore MABS but they do so at their peril. MABS is quite simply the last resort to resolve debt issues and there are limited options open to credit institutions to recover debts, particularly in the current climate. Indeed even debt collection agencies are having examiners appointed such is the state of this sector at the moment.

It is true, lenders can have judgments registered, it is true they can seek installment orders and ultimately it is true they can seek to have Judgment mortgages registered (albeit horrendously expensive and difficult to achieve + the debtor must have property in the first place and in the current climate even that is probably in negative equity)

District courts no longer issue committal orders unless the debtor is ignoring claims or just not willing to pay the debt. District Judges will however issue Installment orders but these will be based on statement of means and I assure those in doubt, will also take MABS intervention into consideration, most likely agree to any proposed payment plan with MABS and turn it into an installment order. The key here is that the Judge will take everything into consideration especially current income and this includes Social welfare. In essence the Judge is aware blood can not be got from a stone. It is also worth pointing out again, once the Installment order is granted, thats it, no appeal by the debtor, it must be adhered too and the debtor can no longer contact the creditor unless the installment order is ignored. Judges will permit the order to be revisited to re examine statement of means, for example has the creditors income raised etc in order to increase the installment order.

It is always important to engage creditors, ignore phone calls, especially the witheld numbers, everything should be in writing and documented and always be willing to make an offer that is realistic but equally managable.

As regards Judgment mortgages, again they are very expensive to obtain, there are numerous legal complications say if the property of the debtor is jointly owned etc but ultimately, the creditor does have the option as a very very last resort!

Put simply, as long as the debtor is willing or making an effort, they have nothing to fear (credit rating is ****ed anyway, along with most of the country), MABS should be considered and the Banks for a change just have to put up or shut up! simple as that! Its refreshing all the same to see the banks see the other side of the fence for a change, god knows they have been bailed out on more than one occasion!:P

kaiser sauze · 01-12-2010 03:05AM

Dempo, in case you are not aware, stepbar works in the banking sector so mis-information and putting the fear of 'hell and brimstone' onto people is somehow in his best interest.

I will never stand by and let his kind give people the impression that there is no hope and that they are societal pariahs for falling into tough times that are not completely of their own making. [There is a point of personal repsonsibility, but that is impossible to know without asking every poster obscenely personal questions]

Dempo1 · 01-12-2010 03:22AM

kaiser sauze wrote: »

Dempo, in case you are not aware, stepbar works in the banking sector so mis-information and putting the fear of 'hell and brimstone' onto people is somehow in his best interest.

I will never stand by and let his kind give people the impression that there is no hope and that they are societal pariahs for falling into tough times that are not completely of their own making. [There is a point of personal responsibility, but that is impossible to know without asking every poster obscenely personal questions]

Hi there,

My sympathies to Stepbar and indeed the entire banking sector, indeed todays grim news suggest there wont be too many left working in this sector. I certainly would never consider spreading misinformation, indeed my last post is factually correct in every aspect, I am not encouraging anyone to avoid debt but not to be afraid of it. Equally debtors have to take responsibility and my best advise is to engage but on their terms based on what is manageable. The Banks have very few options open to them, the personal debt crisis is bordering on critical at the moment. I stand over my last detailed post and look forward to it being contradicted!

I guess people need to get real, especially the in the banks!:D

rescue16 · 03-12-2010 11:50PM

Dempo1 wrote: »

This thread is getting a little heated. The facts are quite simple.

Firstly MABS quite frankly are the only option for those seeking debt advice in the first instant and negotiating a repayment schedule in the second. It is true Lenders can ignore MABS but they do so at their peril. MABS is quite simply the last resort to resolve debt issues and there are limited options open to credit institutions to recover debts, particularly in the current climate. Indeed even debt collection agencies are having examiners appointed such is the state of this sector at the moment.

It is true, lenders can have judgments registered, it is true they can seek installment orders and ultimately it is true they can seek to have Judgment mortgages registered (albeit horrendously expensive and difficult to achieve + the debtor must have property in the first place and in the current climate even that is probably in negative equity)

District courts no longer issue committal orders unless the debtor is ignoring claims or just not willing to pay the debt. District Judges will however issue Installment orders but these will be based on statement of means and I assure those in doubt, will also take MABS intervention into consideration, most likely agree to any proposed payment plan with MABS and turn it into an installment order. The key here is that the Judge will take everything into consideration especially current income and this includes Social welfare. In essence the Judge is aware blood can not be got from a stone. It is also worth pointing out again, once the Installment order is granted, thats it, no appeal by the debtor, it must be adhered too and the debtor can no longer contact the creditor unless the installment order is ignored. Judges will permit the order to be revisited to re examine statement of means, for example has the creditors income raised etc in order to increase the installment order.

It is always important to engage creditors, ignore phone calls, especially the witheld numbers, everything should be in writing and documented and always be willing to make an offer that is realistic but equally managable.

As regards Judgment mortgages, again they are very expensive to obtain, there are numerous legal complications say if the property of the debtor is jointly owned etc but ultimately, the creditor does have the option as a very very last resort!

Put simply, as long as the debtor is willing or making an effort, they have nothing to fear (credit rating is ****ed anyway, along with most of the country), MABS should be considered and the Banks for a change just have to put up or shut up! simple as that! Its refreshing all the same to see the banks see the other side of the fence for a change, god knows they have been bailed out on more than one occasion!:P

Ok here we go people ! Here is my view of mabs you would be better off making your wee wee against the wind than going to these fools. I was in a car crash back in march and have been out of work since was falling behind in bills so i went to mabs What a mistake it was !!

1.She said she would contact my creditors on my behalf.
2.Give me a budget plan.
3.Told me that she would get my interest charges frozen and get me payment breaks .

So first of all she did not contact my creditors as i found out when i got phone calls from them myself when i asked them was mabs on to them they said no not at all .
The budget plan is a joke 1 euro a week for this 3 euro a week for that a fecking joke !!
And as for payment breaks and interest being frozen lies rang mabs back to find out why ?? Still waiting for a phone call back.
Please please people i could of doing the budget plan myself and in all fairness anyone can write figures down on a spreadsheet and go by it.
Another goverment waist of space !! D.I.Y thats what i say . YEEEEBBDAA YEEEEBBDAA thats all fokes !!

Dempo1 · 04-12-2010 11:04AM

rescue16 wrote: »

Ok here we go people ! Here is my view of MABS you would be better off making your wee wee against the wind than going to these fools. I was in a car crash back in march and have been out of work since was falling behind in bills so i went to MABS What a mistake it was !!

1.She said she would contact my creditors on my behalf.
2.Give me a budget plan.
3.Told me that she would get my interest charges frozen and get me payment breaks .

So first of all she did not contact my creditors as i found out when i got phone calls from them myself when i asked them was MABS on to them they said no not at all .
The budget plan is a joke 1 euro a week for this 3 euro a week for that a fecking joke !!
And as for payment breaks and interest being frozen lies rang mabs back to find out why ?? Still waiting for a phone call back.
Please please people i could of doing the budget plan myself and in all fairness anyone can write figures down on a spreadsheet and go by it.
Another goverment waist of space !! D.I.Y thats what i say . YEEEEBBDAA YEEEEBBDAA thats all fokes !!

I am sorry to hear your experience was not at all fruitful however i feel it is an exception to the rule. I was in no way saying MABS is our Saviour, i merely wanted to point out they are pretty much most Debtors only and indeed last option. In particular it is becoming more and more apparent these so called private debt management agencies are nothing short of vultures and loan sharks with the debtor only inheriting more debt. Further more Lenders don't take these companies seriously at all, in addition there is clear evidence these companies actually purchase the debt at substantial discounts and pretend to help the debtor reduce and clear the debt.

Furthermore, some people where scare mongering about the big bad banks (who we bailed out), i further explained no one as anything to fear as long as they make an effort. The harsh reality is Creditors have to take MABS seriously as the district and Circuit courts do, in essence creditors can sing till there blue in the face, if the district court grants an installment order (usually on the basis of a plan put forward by MABS, its tough titty for the banks)

I have to say, your experience seems to be bizarre, Fair enough creditors don't have to adhere to freezing of interest but they have to adhere to whatever payment plans are put forward. I am also surprised about your claim MABS did not make contact with your creditors? where did the €1 euro for this and €3 for that plan come from?

rescue16 · 04-12-2010 01:28PM

Dempo1 wrote: »

I am sorry to hear your experience was not at all fruitful however i feel it is an exception to the rule. I was in no way saying MABS is our Saviour, i merely wanted to point out they are pretty much most Debtors only and indeed last option. In particular it is becoming more and more apparent these so called private debt management agencies are nothing short of vultures and loan sharks with the debtor only inheriting more debt. Further more Lenders don't take these companies seriously at all, in addition there is clear evidence these companies actually purchase the debt at substantial discounts and pretend to help the debtor reduce and clear the debt.

Furthermore, some people where scare mongering about the big bad banks (who we bailed out), i further explained no one as anything to fear as long as they make an effort. The harsh reality is Creditors have to take MABS seriously as the district and Circuit courts do, in essence creditors can sing till there blue in the face, if the district court grants an installment order (usually on the basis of a plan put forward by MABS, its tough titty for the banks)

I have to say, your experience seems to be bizarre, Fair enough creditors don't have to adhere to freezing of interest but they have to adhere to whatever payment plans are put forward. I am also surprised about your claim MABS did not make contact with your creditors? where did the €1 euro for this and €3 for that plan come from?

It's actually quite funny she was put down for property fees and other stupid little things i showed it to a friend of mine that works in a bank and he actually laughed at it. But i do agree when you say that the courts go by mabs but unfortunally i came across one lazy lady that did not want to do her job thinking about going back and dealing with someone else. What do you think should i ??

30lady · 04-12-2010 06:15PM

rescue16 wrote: »

It's actually quite funny she was put down for property fees and other stupid little things i showed it to a friend of mine that works in a bank and he actually laughed at it. But i do agree when you say that the courts go by mabs but unfortunally i came across one lazy lady that did not want to do her job thinking about going back and dealing with someone else. What do you think should i ??

I do think you should ask for someone else in MABS to take your case, as it is very important that contact has been made with your creditors.

The budget is supposed to be based on your expenses, so the stupid little things, as you called them should only be included if you spend your money on them. As for the €1 here €3 there, this should be because you only have that amount to give on a weekly/monthly basis without starving/freezing etc. Let your friend in the bank laugh...has he read the MABS/IBF protocol...has he been in a district court lately where installment orders are being set?

30lady · 04-12-2010 06:21PM

Please please people i could of doing the budget plan myself and in all fairness anyone can write figures down on a spreadsheet and go by it.
Another goverment waist of space !! D.I.Y thats what i say . YEEEEBBDAA YEEEEBBDAA thats all fokes !![/QUOTE]

on reading this again I think maybe you should just do it yourself. It would be interesting to see how you get on with your negotiations - then please come back and tell us how you get on

rescue16 · 04-12-2010 06:34PM

30lady wrote: »

Please please people i could of doing the budget plan myself and in all fairness anyone can write figures down on a spreadsheet and go by it.
Another goverment waist of space !! D.I.Y thats what i say . YEEEEBBDAA YEEEEBBDAA thats all fokes !!

on reading this again I think maybe you should just do it yourself. It would be interesting to see how you get on with your negotiations - then please come back and tell us how you get on[/QUOTE] I of course will keep you updated but i might go back to mabs and ask for someone else i say see then how i go for there

MABS made things worse for me does anyone know of any agency that REALLY helps???

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