Key Post Court procedure for debt cases

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Time said:
The original judgement will keep clocking up interest at 8% per annum. Also they will tack on the charges for seeking the instalment order.
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How does that work? I thought once it went to court all costs (including interest) were added together and then you're ordered to pay it off by instalment but the debt doesn't increase with more interest and costs ?
 
When they get the original judgement they will ask for costs and for court interest at 8% per annum to be added.

I will admit that I am not entirely sure what happens regards interest once the IO is granted. I do know they can add the hearing costs at the IO stage.
 
Interest on a JM at a simple interest basis and standard court rate of 8%pa.
Instalment Order is a Court Order for payment of the JM amount. Payment would reduce the original JM but interest would continue to accrue at 8% pa until the amount is cleared in full, including accrued interest.
 
Could I have a judgement against me and not know

Hi,

I am wondering how the courts work in terms of judgements and if they can get some form of judgement in Ireland which can then force a court in Bulgaria to summons me to a court hearing in Bulgaria.

I have unpaid debts in Ireland in the form of 3 rental properties, none of which I can rent and of which I paid circa 300k each and now I am told they are worth circa 100k each if I could sell them.

I explained to the bank that I cant pay as I cant rent the properties and cant give them away even below 100k. Im also unemployed and being a construction worker, its impossible to get a job anyway. Im not eligible for the dole and therefore I'm borrowing money at the moment to survive.

As I live abroad, I havent heard anything from the bank in the last 18 months and I havent paid the bank in that time but I have a friend working in the bank and he said that they are pursuing a court in Bulgaria to summons me to court. Would this mean that they have already put a judgement against me in Ireland and if so how would I find out. If they summons me to court in Bulgaria, does that the mean that they would request me to go back to an Irish court and then a judgement would be enforced on me.

What is the cheapest way of finding out if there is a judgement against me in Ireland already. Is this a criminal offence? I'm sorry I cant pay my debts, I cant sell the properties and I really dont know what to do. I have a family to feed, have no money and life is just unbeareable
 
I'd be somewhat dubious about the assertion by your friend. In order to progress a case abroad the first issue would be to obtain a judgement in Ireland. Judgement could have been obtained against you in your absence. Bank's have been known to take action in the UK & the US, but generally this would only be progressed where it is known that the client had sufficient unencumbered assets abroad, as the costs of these actions are high.
I have previously been involved in bad debt management, & while we have threatened to progress judgement abroad, I have not seen a case where we went the full distance.
In reality I don't see any Bank progressing to action in Bulgaria. it's unlikely but not impossible.
 
44brendan,

I hope you're right but for 900k plus interest I cant believe that the bank wouldnt try to pursue me and the lad in the bank wouldnt have anything to gain by giving me false information. I suppose the bank is only trying to get its money and it probably thinks I have money.

I was thinking if I could establish if procedures have started in Ireland ie a judgement, then I presume they will be coming to Bulgaria next. If they come and summons me, will I have to attend court in Bulgaria or in Ireland and what would happen to me then. How do I go about finding out if there is a judgement against me in Ireland in my absence? Is there a cheap way of finding out without using lawyers or whatever means is generally used.
 
As a Bulgarian resident I can tell you that enforcing debts here is almost non existent. I have never heard any courts here entertaining foreign judgements.

As for looking for a registered judgement try http://www.trustonline.org.uk/ . They will tell you if there are any judgements registered in Ireland or the UK for that matter. No lawyers needed.

I think it would be very hard for them to get a judgement in your absence as you will needed to be served personally with a summons. Well that can't happen if you are not in Ireland.
 
Time,

thanks a million for your advice. I tried to use trustonline.co.uk but the address the bank have for me is either an irish address or Bulgarian and neither seem to be accepted.

Now since my property is in Ireland and I got my loans out in Ireland, would the bank first have to go to a court in Ireland and then proceed to Bulgaria if they were intent on 'trying' to getting their money back or could they just go straight to Bulgaria and start the process from there.

Also if you have any other sites that I could use to check if there is a judgement against me, that would be appreciated or if you could tell me how to use Trustonline so that it would acknowledge my address.

I wonder would a credit check in Ireland with this icb crowd work.
 
I would be of the opinion they would need an Irish judgement as a starting point for any action in Bulgaria. As I said the Bulgarian courts will be slow to do anything if they will even allow enforcement here.

If there is a registered judgement it should show up on the ICB. No harm in checking your ICB. For a 900k debt you would know all about it.
 
Ok, I will try the ICB route. Does every bank use the ICB. I had heard that Bank of Scotland, Ulster and ACC dont use the ICB for bad credit ratings.

I suppose that for a judgement, the courts would automatically update the ICB whether the banks use them or not? Yes I agree that with 900k owed, the banks will come looking but what can I do. I've absolutely nothing to offer them except the bread on the table. Can you get a criminal record for not being able to pay your debts.
 
By the way, just came across this site, its the irish courts site and did a search for judgements, etc but nothing. Not sure its the best site to use as the search isn't great and the site just isnt that user friendly. Anyway it just might help someone else in a similar boat.
 
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Has anyone any experience of the banks going abroad to collect their debts...to Spain, UK and what approach has the bank taken?
 
Time said:
I think it would be very hard for them to get a judgement in your absence as you will needed to be served personally with a summons. Well that can't happen if you are not in Ireland.
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You dont need to be served personally with a summons. Where someone is having difficulty in effecting personal service, the Courts will usually allow them to serve by some other means. I've seen the following been granted:

- to last known email address.
- by post to last known address in this country.
- by post to any address person is known to frequent (e.g. parents).
- in the case of property debts, by posting it on the front door of the property that the debt is secured on.
- by posting it to any property known to be owned by the defendant.
 
Thanks for that info. What I am amazed at is the bank haven't taken possession of the 3 properties in Ireland, haven't sent any notices to the properties, have my email address and have an address in Bulgaria. There has been no correspondence whatsoever from the Bank. Is this normal? I just wish they would take the properties. Two years ago I asked them if I could sell them and they sent a lawyer the title deeds. I put them on the market and kept dropping the prices but absolutely nothing. I even put them on with multiple agents. What am I best to do, email the bank or leave them. Either way I have nothing to give them except hand the keys back to them and let them do what they need to do after that....
 
Martin1972m said:
Thanks for that info. What I am amazed at is the bank haven't taken possession of the 3 properties in Ireland, haven't sent any notices to the properties, have my email address and have an address in Bulgaria. There has been no correspondence whatsoever from the Bank. Is this normal? I just wish they would take the properties. Two years ago I asked them if I could sell them and they sent a lawyer the title deeds. I put them on the market and kept dropping the prices but absolutely nothing. I even put them on with multiple agents. What am I best to do, email the bank or leave them. Either way I have nothing to give them except hand the keys back to them and let them do what they need to do after that....
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Repossession isnt a desireable option for most people in arrears. Its something that is not advised. There is no option in Ireland to 'hand back the keys' ala UK and USA. If the banks repo your property, they will sell it quickly at a knockdown price. You will still owe them the outstanding balance plus legal fees plus sale costs plus interest on all of these.
 
Are you intending to return to Ireland to live/work in the forseeable future? If so you would be as well to contact the Bank and state your current financial circumstances & inability to meet any repayments on the borrowings, but if the Bank agree to a settlement where you will fully co-operate in the re-posession & sale of the properties, in return for this being a full & final settlemet of the loans you will do so.
 
Can I get an injunction in the Circuit Court

Hello Brendan, could you help me, could I obtain an injunction in the Circuit to stop the sale of three properties by Bank of Scotland and halt the receivership process on another 3?
My husband and I have 6 investment properties, all individual mortgages with Bank Of Scotland. the Bank appointed the receivers in November 2011. We recent that bank of scotland had discovered 'and internal systems error had meant that we have overpaid on the mortgages over a long period of time, in the amount of approx €20,000.
Without notifying us in any way, the bank put this amount off the arrears of 3 accounts, only notifying us after it was done. In doing this they contravened the set off rule, which allows banks to put a credit on one CURRENT account off a debit on another CURRENT account owned by the same person. However all our accounts are MORTGAGE(LOAN) accounts. This money, had we had it, would have completely altered how we approached the arrears issue on our mortgages, as we would have sought to renegotiate terms.
We are seeking the return of this money, and also to halt the sale and receivership processes on all the properties, which would leave us in a position to renegotiate mutually agreeable terms, and are wondering would an injunction in the circuit court stop the whole process n it tracks, including halting the completion of the sales of the 3 houses?
All help gratefully received!!
 
Hello Brendan, could you help me, could I obtain an injunction in the Circuit to stop the sale of three properties by Bank of Scotland and halt the receivership process on another 3?
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I've seen the original post on this query & didn't comment, because I feel that the question need to be answered from a legal rather than a banking perspective.
If the Bank have called in a debt because the terms of agreement have been broken, they are perfectly entitled to rely on their security. Standard process is to appoint a fixed asset receiver to sell the properties if they are not put on the market voluntarily.
You have every right to go to the High Court to appeal this, but it would be an expensive process and unlikely to succeed (my opinion!).
Apologies for the bluntness, but if you can't repay the loan from another source, what alternative is open to the Bank?
 
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