Court protection secured over outstanding wedding loan

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A LIMERICK man has secured the protection of the courts from a bank that is seeking repayment of a €20,000 loan he took out to pay for his wedding.

The unemployed Castletroy man was granted the order by the Circuit Court after he showed the court he had assets valued at less than €1. He said he had a weekly income of less than €190 from the Department of Social Protection and monthly outgoings of €840 before paying debts.

He borrowed €20,000 from Bank of Ireland to pay for the wedding reception and there was still over €17,000 outstanding.

The protection notice was sought under the new insolvency laws and gives the man court protection from the bank for three years when the debt will be written off if he complies with the terns of the Personal Insolvency Act.

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