# Bank has judgement for €100k - I have €50k cash - will they settle?



## retroper (17 Jul 2012)

Hi,
I have a large debt to one of the main banks, this is from a company I had that went into liquidation some years ago. They have obtained a judgement against me. I have a small amount of savings that would cover nearly half the original debt. I want to know If I stand any chance of settling with them at this amount, and if there is any help out there in negotiating with the banks. I really don't want this hanging over me any more and want to be able to buy a house for my family in the future. any help welcomed.
Thanks..


----------



## retroper (17 Jul 2012)

...I did make them offers after the business failed and before they started court proceedings, in fact they didn't even respond to some of my offers and wouldn't meet with me, they seemed to just want the judgement no matter what. I haven't heard a word from them in nearly two years?


----------



## retroper (17 Jul 2012)

*Trying to make a settlement with the bank?*

Hi , again, any advise or info would be very much appreciated.
*Personal and income details
*Income self: € 27500.00, public servant etc 
Income partner/spouse: none at present, back to work in the next 12 months. 
number of children: 1
Amount of Mortgage Interest Supplement received
*Home loan : NO
* 

*Other loans and creditors - *delete those which don't apply to you
Bank loan : 90k Ulster bank
*Other savings and investments 
*Approx 37k

*Any other relevant information*
Bank got judgement  against me, even though I made offers, sometimes with no response! Have heard nothing from them since the court date.

*What is your preferred realistic outcome? 
*Have been saving hard and sold my car to get as much cash as possible, want this resolved, have a family now and don't want to rent all my life. Can't move on till this is resolved.

Thanksagain.


----------



## Brendan Burgess (19 Jul 2012)

When did they get the judgement against you?

When did you accumulate the savings? 

Why have you not paid the savings against the judgement? 

What sort of job have you got? 

Is your partner working? 

You need to give some more information. 

Forget about buying a house for a long time.


----------



## Commercial (19 Jul 2012)

Hi retroper. Just wondering which bank it was. Some banks are more open to discussing settlements than others.
This is a starting point and I could hopefully help you


----------



## retroper (20 Jul 2012)

Hi,
Judgement is 09, My business went into liquidation and I had given a personal guarantee (my biggest customer went bust so I was left wiith massive debt)
Have savings since then, I offered them every penny I had but they just weren't interested, they flat out rejected any offer I made and never made a counter offer eg. I offered a lump sum and instlament plan but it was refused I made a second offer of bigger lump sum etc but they never responded.
I'm a civil servant, so job is secure, partner not working at present.
@ Commercial - Ulster Bank.
thanks guys.


----------



## Neoman (20 Jul 2012)

It is so frustrating. " A bird in the hand is worth 2 in the bush " Must not be in the banking manual !


----------



## Brendan Burgess (20 Jul 2012)

Are you sure that they actually have a judgement? 

If so, why don't they just get an enforcement order?  It is a court order so you are obliged to hand over any cash you have, whether or not they do a deal. 

If they know you are a civil servant, they should also get an instalment order against you for the balance. 

Very odd.


----------



## Neoman (20 Jul 2012)

My understanding would be that, they will only settle if you can show no means to pay whatsoever, If they have the judgement I dont know why they dont enforce it. If you have managed to accumulate 50k in 3 - 4 lears, then logically the bank will assume that you will be able to clear the entire in 6 - 8 years. Why should they settle ? Have they an interest freeze on it ?


----------



## retroper (20 Jul 2012)

Yes, defo have judgement. The judgement is against me and my ex business partner, they also have a judgement mortgage against a property that my ex business partner had sold before any court case. I never had any assets. Also when I say civil servant you need to remember we don't all get the big pay cheques! 
Should I contact the bank?
Also did a check ICB, came back clear??


----------



## itsallwrong (24 Jul 2012)

If you have not heard from them in two years? 
Have you been chipping the debt down with some form of payment?

As you know, the order stands for 12 years (other threads on the subject)
Don't expect a mortgage to be sanctioned for years with a judgement in place. 
You might think you have a clear ICB report but the facts are out there.
The day you go looking for a mortgage will unsettle the dust and a polite NO will follow.


----------

