R
rallye
Guest
Ill try and make this as short and as straight to the point.
I had a credit union loan of about 18k, left Ireland 3 years ago to work in the UK and shortly after arriving i invested 9k in stocks from a well known company.
So Cu loan was being maintained for the next year and 1/2, then the company i worked for went belly up, got laid off and returned home to Ireland to save cash, CU were taking 550/month from me and i soon started getting into arrears.
For the last 15 months i have been working on a business idea, this has finally come to fruition and the company was formed last week and already there is 65k of revenue on the books till the 2nd w/end in October.
I cashed out my stocks to provide capital for the startup so i am completely self sufficient, all the items needed to operate the business have been payed for.
I don't have any other loans bar the CU, i have never had a credit card, no mortgage.
My arrears are at 8.5k, 2 months ago they finally agreed to let me pay a lower amount, they did not bring me to court or anything and i have prepaid the monthly repayments for the next 6 months.
I approached the bank for a business account, don't want any loan, no credit card, no OD, just a basic business account where i can process payments (already have 3.5k from services provided over the last week). I cant see how there would be any risk to the bank.
Here's my problem, because of my arrears with the CU the bank will not give me an account untill they are resolved.
This is my catch 22 situation, i plan to completely pay off my arrears within 3 months once payments start coming in but i cant take in payments untill i have the bank account, i also cant get a VAT number untill i have a bank account.
To say i am completley frustrated is an understatement, i had my doubts about a startup in Ireland but wanted to help do my bit to try and get the economy back on track but have experienced nothing but red tape.
I am a grafter, i have never claimed the dole even though i would be entitled to it (no offence to anyone on welfare intended), i love my country but when they put road block after road block in front of people it is soul destroying.
Any advice on what i can do apart from paying off arrears up front. I need that cash for cashflow for the next month.
I had a credit union loan of about 18k, left Ireland 3 years ago to work in the UK and shortly after arriving i invested 9k in stocks from a well known company.
So Cu loan was being maintained for the next year and 1/2, then the company i worked for went belly up, got laid off and returned home to Ireland to save cash, CU were taking 550/month from me and i soon started getting into arrears.
For the last 15 months i have been working on a business idea, this has finally come to fruition and the company was formed last week and already there is 65k of revenue on the books till the 2nd w/end in October.
I cashed out my stocks to provide capital for the startup so i am completely self sufficient, all the items needed to operate the business have been payed for.
I don't have any other loans bar the CU, i have never had a credit card, no mortgage.
My arrears are at 8.5k, 2 months ago they finally agreed to let me pay a lower amount, they did not bring me to court or anything and i have prepaid the monthly repayments for the next 6 months.
I approached the bank for a business account, don't want any loan, no credit card, no OD, just a basic business account where i can process payments (already have 3.5k from services provided over the last week). I cant see how there would be any risk to the bank.
Here's my problem, because of my arrears with the CU the bank will not give me an account untill they are resolved.
This is my catch 22 situation, i plan to completely pay off my arrears within 3 months once payments start coming in but i cant take in payments untill i have the bank account, i also cant get a VAT number untill i have a bank account.
To say i am completley frustrated is an understatement, i had my doubts about a startup in Ireland but wanted to help do my bit to try and get the economy back on track but have experienced nothing but red tape.
I am a grafter, i have never claimed the dole even though i would be entitled to it (no offence to anyone on welfare intended), i love my country but when they put road block after road block in front of people it is soul destroying.
Any advice on what i can do apart from paying off arrears up front. I need that cash for cashflow for the next month.