S
Sand Man
Guest
Dear all,
Personal and income details
Income self: recently employed again after 3 yrs unemployed,earning 65k
Income history: Was self employed, business dried up and owed large five
figure sum that I will never see due to customer going bust.
Income partner/spouse: housewife
number of children: Two under 4
Home loan
Lender: AIB
Amount outstanding: 130,000
Value of home: 280,000
Interest rate: standard variable
Monthly repayment: 800
Amount in arrears : 3 mths
Interest only been in place on all three properties the last 24 months
now no further assistance being sanctioned.
Investment property X 2
Lender: AIB
Amount outstanding: 240,000 + 450,000
Value of home: 80,000 + 160,000
Interest rate: standard BTL + fixed
Monthly repayment 1798 + 2400
Amount in arrears 3 mths + 3 mths
Monthly rent received 400 + 950
Other loans and creditors -
Overdraft 10k business
Car loan 5k left at 6.75%
Other savings and investments
Nil
How important is retaining the family home to you?
I really want to keep the family home and will be in a position to begin
repayments at the end of the month with new job.
What is your preferred realistic outcome?
Keep the family home without having to declare bankruptcy.
What will the banks do next? What should I do next?
Personal and income details
Income self: recently employed again after 3 yrs unemployed,earning 65k
Income history: Was self employed, business dried up and owed large five
figure sum that I will never see due to customer going bust.
Income partner/spouse: housewife
number of children: Two under 4
Home loan
Lender: AIB
Amount outstanding: 130,000
Value of home: 280,000
Interest rate: standard variable
Monthly repayment: 800
Amount in arrears : 3 mths
Interest only been in place on all three properties the last 24 months
now no further assistance being sanctioned.
Investment property X 2
Lender: AIB
Amount outstanding: 240,000 + 450,000
Value of home: 80,000 + 160,000
Interest rate: standard BTL + fixed
Monthly repayment 1798 + 2400
Amount in arrears 3 mths + 3 mths
Monthly rent received 400 + 950
Other loans and creditors -
Overdraft 10k business
Car loan 5k left at 6.75%
Other savings and investments
Nil
How important is retaining the family home to you?
I really want to keep the family home and will be in a position to begin
repayments at the end of the month with new job.
What is your preferred realistic outcome?
Keep the family home without having to declare bankruptcy.
What will the banks do next? What should I do next?