my sister had investment properties. Was forced to sell at a loss by bank. (Properties are now sold ). This one bank (AIB)is her only debt. She now has circa debts of €150k. All unsecured. She lives in rented accommodation.
On residual debt the bank have offered a writedown and suggested a 10 year repayment plan. However - due to major monthly medical expenses she cannot affor the repayment plan (the back ignored her medical expenses when proposing deal).
Basically after the guidelines of monthly living expenses coupled with Her medical expenses she only has a couple of hundred spare in the month.
What is her best course of action?
Do the bank need to agree to a DSA / PIA anyway ?
What is a likely outcome if she goes down the official insolvency route ?
Would they accept a one iff lump sum from a third party ?
Could /would the bank block the PIA/ DSA? If so what happens then ?
Looking for advice.
Thanks
On residual debt the bank have offered a writedown and suggested a 10 year repayment plan. However - due to major monthly medical expenses she cannot affor the repayment plan (the back ignored her medical expenses when proposing deal).
Basically after the guidelines of monthly living expenses coupled with Her medical expenses she only has a couple of hundred spare in the month.
What is her best course of action?
Do the bank need to agree to a DSA / PIA anyway ?
What is a likely outcome if she goes down the official insolvency route ?
Would they accept a one iff lump sum from a third party ?
Could /would the bank block the PIA/ DSA? If so what happens then ?
Looking for advice.
Thanks
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