unpaid loan

A

Apollo

Registered User
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Hi,

A person I know took out a personal loan 2/3 years back and fell into arrears.

He is out of the country about 18 months now and hasn't made payments since.

AFAIK the ICB hold payments records on people for 5 years so in theory a few years down the line this may not be on the ICB.

However what is the most likely thing to happen in this instance? An unsecured judgement perhaps?

I'd imagine plenty of people have left loans behind over the last few years and left the country.

Any feedback would be useful.

Think he now regrets it and wants to know where he stands etc.

Thanks
 
If you look at the posts regarding Judgements, the banks are stepping up their effort on small loans and debts. I would think it fair to say that they have put the wheels in motion already for the debt. You can check on

courts dot ie.
go to the judgements section

Can't vouch for their accuracy but it might be a pointer.
 
Apollo said:
Hi,

However what is the most likely thing to happen in this instance? An unsecured judgement perhaps?
Click to expand...

Does he know if any correspondance has been sent to him by the bank, does the bank know he's left the country. They may just write it off if it's not worth pursing.
 
I would suggest they have gone down the route of court proceedings. Eventually, it will come up and a judgement will be made against him. If they cannot find him then there's nothing they can do. If they do find him in the future then they can try and get whatever judgement that was handed down to be implemented but if he does not co-operate then the whole process starts again. If they feel they are flogging a dead horse then they will just write it off. If your friend wants to engage then engage. I would try and get any correspondance from his last known address and see what's the story. If he regrets it then why not ring up the institution and offer to sort it out ?
 
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