independent

Saturday 19 April 2014

96c assets and €20k wedding loan

A MAN with assets valued at just 96 cent has secured court protection from his bank over unpaid debts concerning a €20,000 loan he took out to pay for his wedding reception.

Judge Patrick Meaghan at Ennis Circuit Court granted a Debt Relief Notice (DRN) certificate to the unemployed 47-year-old Limerick man.

The DRN is available to those under the Government's new insolvency laws and it gives the married man court protection from Bank of Ireland for three years over his debts.

At the end of the three-year period, the debt will be written off as long as the man complies with the terms of the Personal Insolvency Act.

The man was not present in court for the short hearing.

Irish Independent

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