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Ask Ronan Your Own Question
Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 2245
Experience:  B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
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I have received a letter from a Finance company demanding

Customer Question

I have received a letter from a Finance company demanding repayment of €6,500
JA: The Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: This is an outstanding debt relating to a motor vehicle purchased through my business in###-##-####
JA: Please give me a bit more information, so we can help you best.
JA: Is there anything else the Lawyer should be aware of?
Customer: They have not been in contact for over 2 years and my situation remains as it was in 2014 i.e. unemployed and not entitled to claim ant benefit
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the fully-refundable deposit now. While you're filling out that form, I'll tell the Lawyer about your situation and connect you two.
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Ronan replied 1 year ago.

Was your business a Limited Company?

Customer: replied 1 year ago.
but the demand is made to me personally as I signed lease in my own name not company but payment came from company account
Expert:  Ronan replied 1 year ago.

Then you made the agreement with the finance company and not your former business. It is irrelevant where the payments came from you are personally responsible for the debt. When was the last time that any money was paid on the debt or the last time you acknowledge the debt to the finance company??

Customer: replied 1 year ago.
5-6 years since any payment madeAcknowledgement if debt 2-3 years
Expert:  Ronan replied 1 year ago.

Then they are inside the statute of limitation for the issuing of proceedings and fully entitled to pursue you for the debts

Customer: replied 1 year ago.
What would be a reasonable amount to offer in settlement of debt
Expert:  Ronan replied 1 year ago.

It will depend on your circumstances and whether they are prepared to negotiate with you. If you are proposing an agreement to settle. They will want a full statement of all your financial affairs with vouching documentation. It is relatively small debt however. You could offer 1/2 and indicate that it will be paid within a week as full and final settlement. They may not go for it however