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'Six months after getting a loan for a tractor and shed, I lost my job. What can I do?'

Our resident solicitor tackles this sensitive subject

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A new calf shed.

A new calf shed.

A new calf shed.

Dear Karen,

Back in the boom times I unfortunately took out a loan to buy a tractor and put up a new shed on the farm. All in all it came to €100,000. I was working part time as a plasterer in those days and although it was a stretch for me, I thought I had enough money to cover it. The bank did too.

As we all know the good times didn’t last and within six months of getting the loan I lost my job. To make matters worse things on the farming side went downhill too when my venture into calf and beef production turned out to be a disaster in the beef crisis of 2014 and lost a lot of money through that.


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