What will happen to me - will I end up in jail?

Re: What will happen to me - will I end up in jail? Part 2

As a prominent business man/gangster once said

'Borrow 10k you worry about it,borrow 1million and the bank worrys about it'

So true
Best of luck
D
 
Two related threads merged - please do not duplicate posts/threads as per the . Please keep all related discussion in an existing thread where applicable.
 
hi all. i am new to this site. i have found mabs to be quite good as i have been with them for over 3 years now. they have taken care of everything and have also kept me out of court. they did ask could a family member pay off my debts but when they heard that that was not possible they suggested i pay just 5 euros a month to several of my creditors. i still get threatening letters from time to time which does upset me i must say. mabs do keep in constant contact with them... thank god. i can only pay the 5 euros a month as i am on disability. the banks know this yet it doesn't stop them from turning up the heat. i would recommend that a person in debt contacts mabs.
 
they did ask could a family member pay off my debts
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Seems to be common theme with mabs, thats why i didn't trust them. Possible vested interest? who knows?
 
bond-007 said:
Seems to be common theme with mabs, thats why i didn't trust them. Possible vested interest? who knows?
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Seems to be an unnecessary slur - MABS is Govt funded and locally managed. There is no vested interest, and I think it's pretty unfair to imply that this might be possible without any real evidence.

I don't think it's an unreasonable suggestion to make to a person in debt.
 
bond-007 said:
Seems to be common theme with mabs, thats why i didn't trust them. Possible vested interest? who knows?
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I'd imagine that borrowing from family members to defray debts is just one of the solutions that MABS might propose in this sort of situation. Maybe somebody with direct experience can comment? I'm not sure how they would have a vested interest and how suggesting family borrowing might tie in with any vested interest. Perhaps you could explain?
 
When I went to see them some time ago, thats all they would go on about. They were not interested in talking to creditors etc. It did not instill confidence in me. I ended up making direct contact with creditors instead.
 
So this was the only recommendation that they made in your specific case. Has anybody else dealt with MABS and found that this is the only recommendation that they made? Can you expand on what you meant by a potential vested interest in this respect? How did you get on when you approached creditors directly? If, as I suspect, you posted details before feel free to just link to the thread in question. Thanks.
 
bond-007 said:
When I went to see them some time ago, thats all they would go on about. They were not interested in talking to creditors etc. It did not instill confidence in me. I ended up making direct contact with creditors instead.
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I'd agree that your experience was unsatisfactory. Perhaps it is worth highlighting this to local MABS chairperson? Certainly, I'd expect them to provide more options.

I do think that (based on some posts on AAM) that some people have an unreasonable expectation of MABS, insofar as they expect MABS to wave a magic wand and wipe off the debts. They can't/won't/shouldn't do this - though they should help to manage the outstanding debts.
 
to be honest i now find mabs very helpful. in the begining they wanted me to contact the creditors myself but that soon came to a stop after i had words with them. i told them that that should be their job. otherwise why are they in the business? if i have to contact them myself there is no point in having such an organisation. i'd be lost without them though.
 
alpha said:
to be honest i now find mabs very helpful. in the begining they wanted me to contact the creditors myself but that soon came to a stop after i had words with them. i told them that that should be their job.
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Seems like a very impudent attitude to have with them I have to say. They are merely a advice and support agency and are not ultimately responsible for the debts that individuals get themselves into and for which they themselves are responsible.
otherwise why are they in the business?
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They are not in business - they are a free support and advisory service. I have no direct experience of them but reckon that they provide a very useful service to those who, for whatever reason find themselves in financial difficulties. But I certainly don't think that taxpayers money should be unduly spent on free advice to people who often should know better than to get themselves into significant debts and then expect somebody else to bail them out of their situations. Without engaging in the sort of "Nanny State" knocking that can crop up at times, I do wonder if Governments sometimes spend too much time and resources protecting people from their own actions...
 
i became extremely ill and as a result found myself out of work. that lead to the debts. i was an excellent payer before that. i would never expect anybody to bail me out fully. if that was the case i would have allowed my family to do so. if my family had of done that there would have been no need to contact mabs. i did say i'd be lost without mabs and how i find them very helpful. i am simply pointing out how mabs did absolutely nothing for me to start with until after i had a few words with them. if mabs were to continue doing nothing then what's the point? people were asking for comments on mabs were they not? i am not going to get into my illness but a person in my position needs all the help they can get from mabs. by the way, when i said why are they (mabs) in the business i meant why do they exist?
 
I think that MABS recommending that people in debt contact their lenders as a first step is quite a prudent one. After all that is the responsible first step that some people are afraid to make without some encouragement and assistance. In addition approaching the lenders directly as opposed having MABS as some sort of proxy representative might be better since some lenders get very worried when they know that MABS are involved and might be even less inclined to come to an arrangement or to advance credit in the future as a result (at least that's what I've heard anecdotally here on AAM and elsewhere). In such a situation I presume that MABS would assist the debtor in preparing their case and collating the relevant details with which to approach the lenders but I see no intrinsic problem with them encouraging individuals to take the next step and to deal with their own problems themselves. Neither do I see any intrinsic problem in them suggesting approaching family members for a dig out as one possible remedial action even if I don't personally like this sort of thing myself since I know from personal experience that this can lead to problems...
 
ok a small bit then...

i had a nervous breakdown within days of contacting mabs and was in hospital for months yet they wanted me to contact the creditors all by myself. they offered no assistance there. i am not as bad as i was but i must say that asking someone in that state to contact creditors is outrageous. i could hardly hold a phone not to mention ringing creditors to arrange repayments. i do know right from wrong and that was wrong. thank god their attitude has now changed. they can be very helpful when they want to be.

for example, you can't expect a person, who all of a sudden develops alzheimer's or schizophrenia to address their debts all by themselves.
 
Just to be clear, I was not doubting your experience or challenging you to post information about your situation to justify matters. I sympathise (in fact, empathise to some extent) with you in terms of what you went through. However I still don't necessarily think that it's MABS responsibility to deal with the approaches and negotiations in such a situation in spite of how difficult it is for the individual to endure and work through such a life event. I do believe that they should assist and advise in the preparation of a case for presentation to the lenders but ultimately it is up to the individual (or family, friends or professional advisors on their behalf) to deal with them. This is just my opinion on the matter. I'm not sure what MABS's "letter of the law" is on it though.
 
Hi,
Just a note to say that MABS is a money advice and budgeting service that is independent of the credit industry. The MABS Service is financed totally by the Department of Social and Family Affairs.

In order to maintain the ability to be the honest broker it is essential that the respect of the client and the confidence of the credit industry are maintained by MABS. Money Advisers at all times have the best interests of their clients at heart and work tirelessly with clients in putting their financial affairs in order and by negotiating affordable and sustainable agreements.

MABS is now recognised by the credit industry and by the general public as being very effective in supporting overindebted people deal with their situation. We are unable however to comment on individual cases because of the confidential nature of our service.

visit www.mabs.ie
 
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Michael - without getting into specific individual cases can you say if approaching family members for assistance would be one of a number of standard suggestions that MABS would offer clients? In addition is it the exception or the rule for MABS to approach creditors on behalf of clients or would it be more common for MABS to assist in collation of information and outlining of the "case" while leaving it to the individual to deal directly with the creditors?
 
Hi Bond

This is the first time I have heard anyone claiming MABS has a vested interest. I know many of the counsellors and they are top quality and honest people working in a very difficult environment. To suggest that they are a front for the banks is bizarre.

It is very good advice to suggest to someone that they seek financial help from relatives or friends. If you owe the banks money, why would MABS not suggest that you seek help with the repayments if you can't make them from your own resources?

I doubt it's MABS policy to show people how to exploit the legal system to avoid making payments. Their role is to help people deal with overexpenditure and debt.

I would also suspect that MABS meet some clients who try to use MABS to avoid their debts and if a MABS counsellor suspects this, they presumably would not entertain them.

Brendan
 
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