The first problem I see is, do they know you have a company and that bankruptcy will be a problem for you ? If they do, they have you over a barrell.
It's not difficult to track people down if you put your mind to it. It took me 15 minutes once to track an old classmate down online in the USA for a class reunion, I hadn't spoken to him in 25 years. Short of changing your name, you'll be found if they want to find you
And do you really want to spend your entire life looking over your shoulder for only €400k. Is that a price worth paying?
you have €90k, why not put that away safely, see what happens when you default in 12-18 months time and see what you can save in the meantime and then maybe you can try and reach a further and final agreement with the bank on what is outstanding.
You say you can't see yourself returning to Ireland but what happens if you meet someone who does want to come back, or what happens if family circumstances change and you have to come back
as for bankruptcy and the impact on work. so what? work is not life and maybe this could be an opportunity to move into a new career
Head down, try and save some money, maybe try and pay of some of the capital this year if you can and then engage with the bank in a like it or lump it discussion and if they decide to try and make you bankrupt, so what, it's only money, it's not your entire life;
Let me have a stab at this.
If you disappear and default on your agreement, the 1st thing that the Bank will do is obtain a judgment against you in the Irish courts. To obtain a judgment the bank will need to serve a summons on you in the jurisdiction.If they cant find you, they may apply to the courts for permission to make substituted service of the summons. This can done through a newspaper advert or maybe through your solicitor or some such. Once the judgment has been obtained, the bank will most likely start to look for you in the most obvious places eg UK, USA, Australia. The larger the amount owing, the harder it will look. For 400K the bank will be actively looking for you !! As I understand it Ireland has reciprocal arrangements with some countries to enforce Irish judgments abroad. Obviously this is an expensive business. Most likely the bank will not pursue you abroad unless they have good reason to believe that you have assets that can be realised. The bank can petition for bankruptcy in your absence and that's a risk although its unlikely if there are no apparent assets.
Agree that this is the most likely scenario. recommend you put away a rainy day fund to negotiate a settlement when the action has reached this stage. It may well take a year or 2!!Most likely the bank will register a judgment against you in High Court and leave it sit there in case you resurface in years to come or sell debt to recovery expert who will find you and harass you in any jurisdiction
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