A close friend of my partners recently tried to take his own life over a debt he has with the tax man. The debt is in the region of 18k. My partner and I are looking to help him out as best we can. He's a proud individual and speaking about his finances is not something he takes lightly.
He has two property's (main residence and investment property) both properties are in negative equity but are are both on schedule. His earnings are covering his mortgage but he is incapable of currently clearing off in full his Revenue debt even though he is regularly making token repayments.
The revenue have requested a down payment of approximately 25% before they enter into an agreement with him - he doesn't have the 25% nor can he adhere to the repayment schedule they will put in place for him.
Questions are -
Will there be any imprecations for me if I were to clear or part clear off his liability?
What happens (in his case) if he cannot muster up the 25% down payment?
Happy to have any feedback please.
He has two property's (main residence and investment property) both properties are in negative equity but are are both on schedule. His earnings are covering his mortgage but he is incapable of currently clearing off in full his Revenue debt even though he is regularly making token repayments.
The revenue have requested a down payment of approximately 25% before they enter into an agreement with him - he doesn't have the 25% nor can he adhere to the repayment schedule they will put in place for him.
Questions are -
Will there be any imprecations for me if I were to clear or part clear off his liability?
What happens (in his case) if he cannot muster up the 25% down payment?
Happy to have any feedback please.