Hi, about 2010 we had an overdraft facility on my husbands sole trader business account with AIB. I think the amount was €20000. The recession devastated the business and in 2011 the HC issued proceedings. On the advice of a Solicitor (family member so not officially our solicitor) we were told to just not turn up in court and they would throw the case out. We were young, naive, scared and broke at the time so we did what he said. Subsequently there was a judgement made against our mortgage.
I find it very hard to get clear information about this.
1. If we do nothing and the statute expires as it is due to do probably this year - will it remain or will it be removed?
2. If the statute expires does this mean the money can no longer be recovered?
3. If we tried to get it removed would this give the bank the opportunity to attempt to get payment?
And finally, I have seen people mentioning interest in some threads here. Has interest been added to the original amount over the last 12 years? If so how much approximately?
I really want to remove this judgement but I don't have the means to pay anything and I am afraid that if I go about doing anything I will have them back after me.
Thanks
I find it very hard to get clear information about this.
1. If we do nothing and the statute expires as it is due to do probably this year - will it remain or will it be removed?
2. If the statute expires does this mean the money can no longer be recovered?
3. If we tried to get it removed would this give the bank the opportunity to attempt to get payment?
And finally, I have seen people mentioning interest in some threads here. Has interest been added to the original amount over the last 12 years? If so how much approximately?
I really want to remove this judgement but I don't have the means to pay anything and I am afraid that if I go about doing anything I will have them back after me.
Thanks