Key Post Court procedure for debt cases

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So say you did earn a fortune in the next 30 years - that's 20,000 after tax to pay back to the bank.
When you show the bank this on paper does it sink in?
Have you asked them outright where do they think you will get that sort of spare cash to repay? I know the questions might sound childish but we are talking about a bank here.
 
Roamer808 said:
So say you did earn a fortune in the next 30 years - that's 20,000 after tax to pay back to the bank.
When you show the bank this on paper does it sink in?
Have you asked them outright where do they think you will get that sort of spare cash to repay? I know the questions might sound childish but we are talking about a bank here.
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I dont really get your point but whats the point in contacting the bank. Im just totally depressed with all this. I just need to get on with life....i gota get busy living....i've spent the last 18 months worrying....i spoke to a friend today who's visiting me here at the moment. A friend of his owes 20 million and he's not in the slightest worried. He basically said to hell with the banks. I think my friend was worried when he saw the state of me. He just told me to forget about them and not to bother contacting them. It will be a wasteful exercise and only will suit the bank. He told me to let the bank go thru their process and take the properties. I suppose best someone looks after them before they fall down with damp, etc.
 
Hi,could someone explain what consenting to judgment means?by consenting to judgment,does it avoid court proceedings?
 
Case does not actually go to a Court hearing. The Master of the High Court will grant the judgement to the plaintiff. This reduces Court costs and gives the plaintiff a judgement (Which is on it's own only a legal recognition of the debt).
 
If I consented to a judgment,could I still pay by installments,or would the whole amount be requested in full,it is a circuit court case?thank you for answering by the way..
 
Yes. Provided that you are satisfied that the amount claimed is valid, you lose nothing by consenting to the Judgement. Subsequent repayment agreement will be between you and you're creditor. The Court will not interveen with this unless the creditor takes further proceedings against you. Circuit Court proceedings are similar to that above, except that the judge will grant the order.
 
Id like to thank everyone for all their help and advice over the last couple of weeks. Having various opinions from within the irish banks and from the outside, has certainly helped. After reviewing my situation and having the support of a friend here, i have decided to stop all further communication with the banks and leave the lawyers to do there duties. I do not feel getting involved the the legal people within the banks will be of any benefit to me. In any case i dont have anything to lose. If the bank wishes to pursue so be it. It makes no difference whether they try putting a judgement in place or not. Im not coming their direction anytime soon.
 
Has anyone seen the eviction that took place in Dublin on Tuesday or Wednesday of this week. Its was on You tube. Its absolutely terrible whats happening over there. In fact its sad to see. Its like reading about what happened in Famine time when the English Landlords were evicting tenants for not been able to pay their rents. I just couldnt imagine what happened. For a bank to kick out a 71 and a 63 year old couple and yet the government stated that there would be no evictions from peoples homes. What is the world coming to? Its terrible and as Irish we should all be embarrassed for allowing this to happen to humans in our little country. I cant believe that nobody in Ireland is standing up to this and saying enough is enough, this cannot happen again. There must be another solution for people like these apart from kicking them out on the street. You wouldnt do it to your dog. In my case, I only wish the sheriff came and took the properties but in the case of this couple, the heartache they must be going through is just awful. People need to start to aclimitise to that fact that the celtic tiger is gone and with it is a vast amount of wealth for those people who have borrowed to buy property and then the value of the property decreases substantially and an avalanche affect occurs with equity drawdowns, etc. Look in my case. 3 properties with borrowings of lets say 300k each. Properties now worth (if they are) 100k. So I now owe 1 million but the properties are only worth 300k so where has the 700k disappeared to. The celtic tiger has basically eaten itself and all the wealth it so easily generated went with it. Its certainly not in my bank account. Am I responsible for causing this loss, are these evicted couple responsible for causing it, who is responsible, are the banks, the government, the regulator. Is the solution to just kick people out of their homes to seemingly make things better, to get confidence back in the market as they say? I dont think so? Do you?
 
extopia said:
Here's a differing opinion on the incident to which you refer: http://bocktherobber.com/2012/04/killiney-eviction/
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Interesting article from bocktherobber. The language in the comment section is a bit over the top though, a little unprofessional to say the least and something that should be censored by the website owner just to keep the site more professional like askaboutmoney.
At the end of the day, no individual wants to be removed from their home whether they are poor or rich. This couple borrowed money during the boom like 80% of the irish population and ofcourse we borrowed too much. The banks just kept offering it and telling us why not take 110% mortgages because the propert will increase and rents will also increase. Whether your a small time investor or a larger investor, the difference was just a muliple factor of borrowing. In the case of this couple, they had a business and im sure they worked hard to build that business. They sold the business and moved back to ireland to invest their money. Remember we all paid stamp duty, they just paid more. We all rented our properties and with the rent we paid our taxes, they just paid more because they had more property. We all used services of electricians, plumbers, constructors, maintenance companies to look after our properties and ofcourse this money is continuously circulation within the economy, each time it moves hands it taxed and ofcourse VAT is deducted. So during the years when this couples empire was going well they contributed to the economy, social welfare, infrastructure, etc. As equity built up on their properties,they probably pulled out the equity and borrowed more as we all did, pushed by the banks to do so on many an occasion. Now when the downturn came, everyone was shocked, not alone the banks, government and those who invested everything they had. Once the downturn came, investment spiraled downwards and no matter what you did, it only got worse. In the case of this couple, selling wasnt an option because by selling you have absolutely no way of being able to generate the losses to pay back the bank. You have no asset that can be left aside to generate the losses to pay back the debt so selling makes everything worse and actually has a domino effect. From what i read on the net, it would seem that the couple were trying to work with the bank but as the bank will not comment, its very difficult to know. What i know from friends of mine in ireland is that the banks are not easy to work with, especially the legal teams. They dont negotiate, its their way or no way. And as we have all seen, NAMA dont negotiate. It will be interesting in years to come to see how successful NAMA will be. Remember they are selling the best of the best property at the moment and ofcourse saying that they are making profits for theirish tax payers. Will be interesting to see what they will do with all the rubbish in the future. But then again they will always have excuses that will release them of their responsibilities. The question will be asked at some point should NAMA have worked with the developers to find recovery solutions or just dug their heels in and ceased the assets. Similarly it will be interesting if the banks were to spend more time looking at solutions rather than ceasing assets. Time will tell......
 
Martin1972m said:
We all rented our properties and with the rent we paid our taxes
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etc

To quote Tonto to the Lone Ranger, "who's the 'we' here, paleface?"

I do not believe that any landlords contributed "meaningfully" to the economy during the bubble years (the nature of bubble economics dictates otherwise). Nor do I believe that "we all" acted the same way in terms of borrowing, spending, saving. Those of us who acted irresponsibly did so out of naivety and, possibly, greed. Those of us who were less flathulach were just being normally rational. To blame the banks, the government, for encouraging irrational lending is passing the buck. You might as well blame the barman, the taxi driver or RTE.
 
Martin1972m said:
Has anyone seen the eviction that took place in Dublin on Tuesday or Wednesday of this week. Its was on You tube. Its absolutely terrible whats happening over there. In fact its sad to see. Its like reading about what happened in Famine time when the English Landlords were evicting tenants for not been able to pay their rents. I just couldnt imagine what happened. For a bank to kick out a 71 and a 63 year old couple and yet the government stated that there would be no evictions from peoples homes. What is the world coming to? Its terrible and as Irish we should all be embarrassed for allowing this to happen to humans in our little country. I cant believe that nobody in Ireland is standing up to this and saying enough is enough, this cannot happen again. There must be another solution for people like these apart from kicking them out on the street.
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Have you stopped to think why they are being evicted from their large, luxury home while they continue to own 20 properties around Dublin, and more in London? Do you really believe that none of their rental properties has been vacant in the 2 years that the possession order has been active, that they could have moved out of their large, luxury home and into the rental property? How come they have been able to manage the mortgages on their rental properties to avoid any repossessions there while leaving their family home mortgage hanging?
 
Complainer said:
Have you stopped to think why they are being evicted from their large, luxury home while they continue to own 20 properties around Dublin, and more in London? Do you really believe that none of their rental properties has been vacant in the 2 years that the possession order has been active, that they could have moved out of their large, luxury home and into the rental property? How come they have been able to manage the mortgages on their rental properties to avoid any repossessions there while leaving their family home mortgage hanging?
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I dont know the full facts of this case, so if ur saying to me that you do and that this is what happened then I guess you're right to complain. But root of the problem stems from the banks handing out money and the regulator and government not enforcing any controls. If we look at the big picture...Anglo will cost you and all the other tax payers in Ireland well inexcess of 45 billion and wait till NAMA closes its doors in the future...well that will be a wake up call for all....100's of billions lost and cover up after cover up. Tell me what has ever happened with the Anglo bankers responsible for the loss of billions of Irish tax payers money.....nothing, absolutely nothing....isnt it amazing that those responsible for the loss of billions of your money dont even make the headlines anymore and yet the small fish, those losing there private homes, getting judgements, finding themselves in court are all making the headlines....and whats even more amazing is that the Irish public are not standing up for themselves but rather just complaining behind the scenes. Its one thing that has always amazed me about the Irish back home....
 
Martin1972m said:
I dont know the full facts of this case, so if ur saying to me that you do and that this is what happened then I guess you're right to complain. But root of the problem stems from the banks handing out money and the regulator and government not enforcing any controls. If we look at the big picture...Anglo will cost you and all the other tax payers in Ireland well inexcess of 45 billion and wait till NAMA closes its doors in the future...well that will be a wake up call for all....100's of billions lost and cover up after cover up. Tell me what has ever happened with the Anglo bankers responsible for the loss of billions of Irish tax payers money.....nothing, absolutely nothing....isnt it amazing that those responsible for the loss of billions of your money dont even make the headlines anymore and yet the small fish, those losing there private homes, getting judgements, finding themselves in court are all making the headlines....and whats even more amazing is that the Irish public are not standing up for themselves but rather just complaining behind the scenes. Its one thing that has always amazed me about the Irish back home....
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There is nothing in what you say that justifies this couple staying in their luxury mansion at the taxpayers expense.
 
Complainer said:
There is nothing in what you say that justifies this couple staying in their luxury mansion at the taxpayers expense.
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As i said, i presume u have the full facts and therefore you can come to that conclusion. In any case i dont like to see anyone lose their private home. Dont lose sight of the bigger picture though, where the banks and government of ireland have lost billions of irish tax payer money and no one is being held accountable...take anglo for example, how about AIB....etc...the list goes on and the biggest laugh of all will be NAMA....watch that space....that little couple in Dublin will be well forgotten about when NAMA flood gates open.
 
Martin1972m said:
As i said, i presume u have the full facts and therefore you can come to that conclusion. In any case i dont like to see anyone lose their private home. Dont lose sight of the bigger picture though, where the banks and government of ireland have lost billions of irish tax payer money and no one is being held accountable...take anglo for example, how about AIB....etc...the list goes on and the biggest laugh of all will be NAMA....watch that space....that little couple in Dublin will be well forgotten about when NAMA flood gates open.
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I come to that conclusion from that facts that are in the public domain. There is no scenario possible that justifies them staying in their mansion while failing to pay their debts.
 
I think that telling people not to defend themselves in court is very wrong .

You have an opportunity in court for negotiation and to put your own proposal's on the table, in the presence of a judge who is not from the company seeking the debt repayment, and who may be sympathetic towards your plight .

If you don't turn up or try and defend yourself things will automatically go against you.

In my opinion of course ;)
 
Martin1972m said:
In fact its sad to see. Its like reading about what happened in Famine time when the English Landlords were evicting tenants for not been able to pay their rents.
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It is insulting to compare what happened in Killiney with the memory of the Famine. Very very wealthy people chosing to not move into any one of their very many expensive rental properties and chosing to stay rent free in their mansion at our expense is nausating.

It is also insulting to the very many families who are worried sick about losing their homes as they do their best to try and meet mortgage payments and feed their families.
 
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