Hi,
My husband has an outstanding personal loan with Bank of Scotland for over €16,000 which he wasnt making payments on because he was unemployed.
He has started work again and has started paying about €5 per week back as he has other loans to the value of €35,000 as well and this is all he can afford since he is also paying his half of the mortgage / €225 per week.
He received a letter from a solicitors in Dublin today stating that "you have failed to honour your promise to settle your outstanding indebtness" "Failure to settle the outstanding debt IMMEDIATELY may result in the first instance, in a vist to your home by one of our collections officers"
Can someone tell me does this mean that they will come and take items from the house? What options does he have?
My husband does not have the money to settle this debt at all ! He is barely managing to pay other debts, keep a car on the road and work ( thank god ) oh and pay the mortgage ( this has arrears on it but at least we are making the payments now ).
Our mortgage and health are more important at the moment and we are glad we are back on track ( albeit with arrears but at least back on track )
Any help or advice here would be welcome !
My husband has an outstanding personal loan with Bank of Scotland for over €16,000 which he wasnt making payments on because he was unemployed.
He has started work again and has started paying about €5 per week back as he has other loans to the value of €35,000 as well and this is all he can afford since he is also paying his half of the mortgage / €225 per week.
He received a letter from a solicitors in Dublin today stating that "you have failed to honour your promise to settle your outstanding indebtness" "Failure to settle the outstanding debt IMMEDIATELY may result in the first instance, in a vist to your home by one of our collections officers"
Can someone tell me does this mean that they will come and take items from the house? What options does he have?
My husband does not have the money to settle this debt at all ! He is barely managing to pay other debts, keep a car on the road and work ( thank god ) oh and pay the mortgage ( this has arrears on it but at least we are making the payments now ).
Our mortgage and health are more important at the moment and we are glad we are back on track ( albeit with arrears but at least back on track )
Any help or advice here would be welcome !