Lottery winner told to honour guarantee to Ulster Bank

Brendan Burgess

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The Galway Mayo Institute of Technology (GMIT) lecturer was required to pay back a total sum of €14,371 - which consisted of the debt of €13,507, €624 in costs and expenses, and interest on the lot, at a rate of 8 per cent per annum.


The creditors were seeking payments of €400 per month, but he said he could only afford €50.

The judge ordered him to pay €250 per month.

But he is paying €3,000 a month capital on his mortgage. He should have been told to take a payment holiday on his mortgage for 5 months and clear the debt.
 
That is not how the district courts operate sadly. €400 is always the default start for instalment orders.
 
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