Jim Stafford
Registered User
- Messages
- 631
A. Can the Judgement mortgage be included in any over all PIA arrangement? Yes
B. My motivation is not to seek a reduction in my liabilities but my earning potential as explained diminished for the foreseeable future, Is my equity value almost too high for creditors to accept a PIA? A PIA would allow you to clear all of your debts over a long time period.
C. Do I focus on the Judgement mortgage, try and deal with that and just consider a PIA for actual Mortgage? If you have not acknowledged the JM in writing over the 12 year period then it is statute barred. You could ask your solicitor to write to the PRA and have it cancelled.
D. I don't have a figure on value of Judgement mortgage, I've requested a full credit report from Central Bank, will this show up? Such credit reports do not show JMs. You may calculate the value of the JM by adding simple interest of 8% per year from date of judgment until 1January 2017 and 2% after that date. In any event, as advised above, the JM is now statute barred. (Just ensure that you do not open up a bank account with the same bank to avoid set off.)
Jim Stafford
B. My motivation is not to seek a reduction in my liabilities but my earning potential as explained diminished for the foreseeable future, Is my equity value almost too high for creditors to accept a PIA? A PIA would allow you to clear all of your debts over a long time period.
C. Do I focus on the Judgement mortgage, try and deal with that and just consider a PIA for actual Mortgage? If you have not acknowledged the JM in writing over the 12 year period then it is statute barred. You could ask your solicitor to write to the PRA and have it cancelled.
D. I don't have a figure on value of Judgement mortgage, I've requested a full credit report from Central Bank, will this show up? Such credit reports do not show JMs. You may calculate the value of the JM by adding simple interest of 8% per year from date of judgment until 1January 2017 and 2% after that date. In any event, as advised above, the JM is now statute barred. (Just ensure that you do not open up a bank account with the same bank to avoid set off.)
Jim Stafford