Key Post Does my debt just disappear after 6 years, if the bank does nothing or can't fit find

[patj]

Biggun

Just wondering have you any update.

I myself have mortgage for house and land and have not made any payments since approx 2010. I get regular statements but have had no phone contact for a long time.
I am still living and working here.

After the 6 years do I do anything about the mortgage or does it automatically disappear. This house and land was used as security for a business overdraft that also has not been paid. Does this also come under the 6 years.

 

[44brendan]

I myself have mortgage for house and land and have not made any payments since approx 2010. I get regular statements but have had no phone contact for a long time.
I am still living and working here.

After the 6 years do I do anything about the mortgage or does it automatically disappear. This house and land was used as security for a business overdraft that also has not been paid. Does this also come under the 6 years.

Unfortunately the statute of limitations period where "land" is concerned is 12 years as opposed to 6 generally!

 

[glenntec]

Very interesting read and quite encouraging really.
I ran into trouble like alot of people around 06/07 with the mortgage. I have since moved abroad and want to come home.
I left in late 2012 and wrote an apology letter to the EBS and just left. They did write one eamil to me asking me to contact them and i didnt.
The house sold in Feb this year by i prosume the EBS or whoever. Does my 6 year stint start from then or from when they recieved the letter i wrote in 2012?
Details of monies were bought the house for 156k when i left it was valued at 65k and it sold in Feb for 90k.
I have heard that bankruptcy is down to one year to encourage people back to ireland. Is this true?