General advice on debts

[deltaray]

Back in 2007 I lost my job and got behind with a few debts, CC and 2 personal loans. In total they came to just under €20,000.

Obviously I was unable to pay so I tried to agree repayment plans with my creditors but because my income was so low I was unable to meet their demands.

One Creditor took me to court and won a judgement against me, but because of my circumstances they were awarded a small amount each month. €25 per month.

In 2010 I moved into social housing, My wife and I were renting privately. She managed to get work where we relocated to and is still working today but our income hasnt really changed when you take our costs into account, I now manage the house and look after our children.

I continue to pay my judgment order but the letters from the other creditors seemed to dry up, in 2011 we stopped paying for our redirection service from the old address and I never informed any of the creditors that I had changed address.

I have heard nothing from any creditor since, but I continue to pay my monthly judgement order.

I was considering in applying for the new PI to clear all my debts because I doubt we would be able to ever clear out debts with our incomes and the current economic climate.

I have 3 questions and would be greatful if someone could clarify for me.

1) Can I include my existing judgment debt into the PI and clear the debt within 3 years I believe?

2) Is it worth applying for the PI for the other creditors or would they have become statuate barred because of the length of time since ? Should I contact them at all considering I havent heard anything since 2010 and they dont have my new address?

3) Does the statute of limitations starts running from the date of the last payment made for loan agreements?

I understand my credit rating is destroyed but in all honesty I would ever want credit again, I have found the whole exercise soul destroying and with the current economic climate It is really depressing.

Thankyou for taking the time to read and reply.

 

[44brendan]

1) The installment order on foot of the judgement against you is a court order. It's a Court order to pay a fixed amount and would ned to be revised only with Court approval. i.e. both you and the Creditor would need to agree. You have the option of applying to the Court for a revision if the Creditor doesn't engage. However amount does appear low.
(2) Thats a call you will have to decide on. If the debts are sufficiently old and no proceedings have been taken against you to date, it may well be worth taking the gamble that they are not going to commence chasing you in the future.
(3) statute runs from the last acknowledgement of the debt. That is generally the last payment by you. It can be revised by commencement of Court proceedings within the 6 year period.
It's your call, but if it were me, I'd keep my head down and not risk resurrecting debts that may have been written off.

 

[deltaray]

Thanks for your reply.

I think I may just keep my head down. How long is it normally before they can't touch me legally? For instance could they have put in a judgement in the last year available at my old address without me knowing? If they have how long do they have to enforce judgement?


Thanks again.