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Out of interest, did they indicate what level the discount was likely to be? I'd agree with them being unlikely to force you to do anything: they'd be laughed out of court if they tried to get repossession when you're making full payments and a contribution to arrears.

Thanks for that. They are aware of the reports about Tanager. I don't want to say too much, as I don't wish to identify them, but the following is an outline of the position. Current rate is less than 1%. Current balance is more than €500k. More than 10 years left to run. It was non-performing...

I met with the person in this situation yesterday. From what they said, it's very clear that the only deciding factor is what the offer on the table actually is: they have zero interest in the circumstance, history or indeed anything else about the borrower. This is not a bank, nor are they...

Indeed! Which is why I'm asking the question. I have browsed previous posts on this site, but nobody has stood out for me. Apart from finding someone, I was kind of hoping for someone to respond along the lines of, "yes, I agreed a writedown of x% last month", but maybe that's asking too much...

Indeed - thanks for that: all good points and all accepted. As you say, it will depend on the circumstances. However, at the end of the day this is a negotiation, and a very one sided one at that. If those making the case to them have knowledge of what they have agreed to in the (recent) past...

I know of someone who met with Cerberus last week; they have an ex-Danske tracker mortgage, sold to Cerberus last October. It was clear at the meeting that Cerberus are open to offers if the loan can be refinanced elsewhere. I don't know what to advise them in terms of what they should offer...