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The bankers/lenders loved to lend here because we come from,a high moral background and therefore they calculated their low risk of lender to this nation. The gov and banks have played us for fools and because of this moral judgmental society of ours we feel it's the right thing to do to pay it...

If you have no assets and are not living in the house just go bankrupt,lots of people do it these days. Make a fresh start. Your credit rating will damaged for a long time, but that's probably a good thing. Have you looked into insolvency?

How do you get it removed ? Is there huge expenses involved? Typically how much is the legal fall out when one has been pursued through the courts?

What do you mean they will wait till your uk bankruptcy is over and then chase for the shortfall. I thought you can't be chased after going bankrupt ? Also, I didn't realize that there has to be a high court process to voluntarily surrender the property.

Yes,that makes sense....Make a new start and be done with it,probably easier said than done if you have a family to look after...

I don't think that you are right that he cannot go bankrupt because he has no money.Bankruptcy serves as a protection from his creditors,any assets he has will be disposed of to repay the creditors and if he goes through for the UK bankruptcy option he can be discharged after 12months.

Its a very taboo subject in Ireland. People begrudge anyone trying to escape from their debt while everyone else is left paying the bill. I doubt very much the banks will extend there limited resources overseas to chase loans in the imidediate future if at all. Your best bet is to get them to...

Your best bet if you haven´t done already is voluntary surrender the hse and negotiate some sort of settlement thats feasible for you.If they don´t accept it then there is not a whole lot they can do otherwise

Just go bankrupt and live your life again

Whats immoral about getting a new start financially? Surely its immoral to tie people to a debt that was inflated through gov policies and the banking pyramid scheme in real estate?

I agree. Don't let the idea of social stigmatism deter one from getting a new start in life. The financial system has failed us in Ireland and the blame is not shared out equally.The housing gamble is left to the taxpayer to pay for all the mistakes..Its unfair and unjustified.The clock needs to...

The truth is the system in Ireland has already got one over on you plus it will contnue to get one over on you and there is nothing you do about it. People will do what makes financial sense at the end of the day,morals don't come into it. Look at what the banks and gov are doing to us....is...

What happens if you don't attend stage 2? What happens if you do attend stage two,accept the enforcement but now find yourself insolvent? Can you go bankrupt in the UK then? Are the banks less likely/likely to aggree on a shortsale prior to the court proceedings if you are already engaging with...

Was that bank a sub prime lender by any chance?

Banks default all the time, business default all the time but when its the small person trying to make a living its bad..... People we are caught in a continuing spiral of negative equity and austerity measures that we are forced to carry for the rest of our lives and this is WRONG!!!!! We...

I am in negative equity also This noose you are talking about is exactly how i feel and i'm so dam angry.It kills me to pay any more for my house in Navan that has lost at least 160k since the time of purchase and I reckon will drop another 20-30k over the next few years.I'm seriously...

Default So I'm looking at options...restructure my mortgage over something like 80years! Or just default and let the bank suffer the debt.Developers get bailed out so why not we,after fall we are suffering these austerity measures for a wreckless lending envirnoment and goverment...