# Can bank get an attachment of earnings orders (AEO's) for debt in this juristiction?



## mprsv1000 (4 Mar 2011)

If the bank sell your house and there is say €200,000 outstanding (which you can't pay due to a job loss and partner severe pay cuts) can a bank seek an attachment of earnings for outstanding amount i.e x amount per month outof yer pay from source. 

Just wondering if its not better to emergrate rather than have a huge debt arounf yer neck for the rest of your life?


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## ajapale (4 Mar 2011)

Ill leave this question here  Mortgage arrears, personal debt & negative equity for the moment but similar questions were posed a few years ago in the jobs/careers section.

I think court ordered deductions from wages at source exist in this juristiction but they are rare.


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## Time (4 Mar 2011)

They are extremely rare if they even happen at all, as only the official assignee in bankruptcy can make such an order. The standard practice for a civil debt is to drag you down to the district court for an instalment order to me made. You make the payments yourself to the bank.

If you are never returning and you want to disappear for good then emigration is the way to go.


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## mprsv1000 (4 Mar 2011)

Time said:


> If you are never returning and you want to disappear for good then emigration is the way to go.


 
looking that way quality of life in Ireland just noth worth it, not with a young family


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## Brendan Burgess (5 Mar 2011)

Emigration does not solve the problem. 

You would also have to go bankrupt in the country to which you emigrate.

Brendan


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## ajapale (5 Mar 2011)

From:

Spotlight: Debt_Part_3-_The_imprisonment_of_civil_debtors (discussion of alternatives).pdf (application/pdf Object) 



> 2. Once a judgment debt has been obtained a creditor can then issue proceedings seeking to enforce the judgment.
> 
> There are a number of enforcement options open to him, including:
> 
> ...





> ...Stakeholders have been calling for reform, and in particular for the introduction of an alternative method of enforcement i.e. attachment of earnings orders (AEOs). The banks have indicated their support to finding alternatives to debtor imprisonment and have welcomed the LRC consultation paper38.
> 
> AEOs would offer creditors at least some chance of recouping their money, albeit in small amounts over long periods.
> 
> ...


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## mprsv1000 (5 Mar 2011)

Brendan Burgess said:


> Emigration does not solve the problem.
> 
> You would also have to go bankrupt in the country to which you emigrate.
> 
> Brendan


 
Assuming I was buying another property and needed to have a credit check here, but even in this instance bankrupt laws are FAR more forgiving than in Ireland
A recent case in spain where a judge found against a bank seeking to make a lendee pay back money after the bank had sold house for half of outstanding mortgage, stating the lender took the risk in lending to the lendee and it was their reckless lending practices that lead ultimately to losses.

Ireland's debt legal system is set to hang a noose around a lendee's neck other countries show more social awarness of the plight and injustices of such practices, and a willingness to alow them to breath again after a relatively short period of time.
So YES emergration does solve the problem, my children will have a life (and heating)


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## Brendan Burgess (5 Mar 2011)

> A recent case in spain where a judge found against a bank seeking to  make a lendee pay back money after the bank had sold house for half of  outstanding mortgag



Absolutely no relevance to Ireland.


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## Pope John 11 (5 Mar 2011)

Brendan Burgess said:


> Absolutely no relevance to Ireland.



But should it be? What lessons are the banks going to learn from this? Its a two way street.


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## mprsv1000 (5 Mar 2011)

Brendan Burgess said:


> Absolutely no relevance to Ireland.


 
Not true they have similar laws on debt to us and the appeal by the bank is being closely watched here, nothing is written stone and everything is open to change....there no ABSOLUTES


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## mprsv1000 (5 Mar 2011)

Pope John 11 said:


> But should it be? What lessons are the banks going to learn from this? Its a two way street.


 

True if they can look at models used in other countries to solve banking crisis why not look at mortgage bedt which is heading to a second crisis for the Irish economy, shorted sighted policies that don't take into consideration the wider picture and all possible ramifications is what got the country into this mess, with no small help from our equally wreckless  euro neighbours, good to see a judge standing up for the common man


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