Considering the government, central bank, banks have not progressed the personal insolvency or come up with a workable resolution, should we not follow the New Beginnings/Laura example and create our own PI arrangement.
This would involve (the 10,000 plus) writing to the bank informing them we will hand back the keys and pay a realistic, affordable monthly payment, for the next six years, and that is closure on the matter.
If the bank do not agree to this within three months we pay nothing until we are summonsed to court, which will be at least a year later, and then we will probably, be committed to pay less then we offered the bank originally, and they will have a significant legal bill also.
To the moral hazard brigade, too little, too late. We are fed up waiting. We want to give our children a future and get on with our lives. We didn’t commit any crime. We are not rich enough to qualify for the NAMA treatment and the banks will not come to the table.
Could anything be worse for the economy/country than the current mess?
Do we have an alternative?
This would involve (the 10,000 plus) writing to the bank informing them we will hand back the keys and pay a realistic, affordable monthly payment, for the next six years, and that is closure on the matter.
If the bank do not agree to this within three months we pay nothing until we are summonsed to court, which will be at least a year later, and then we will probably, be committed to pay less then we offered the bank originally, and they will have a significant legal bill also.
To the moral hazard brigade, too little, too late. We are fed up waiting. We want to give our children a future and get on with our lives. We didn’t commit any crime. We are not rich enough to qualify for the NAMA treatment and the banks will not come to the table.
Could anything be worse for the economy/country than the current mess?
Do we have an alternative?