ruairi mccarthy
Registered User
- Messages
- 3
Thanks for the quick replyOK, the first think you need to do is to think whether you want to keep this house or not.
I am not clear on what you are actually paying. Are you actually repaying €1,365? or are you paying €200 per month.
The big advantage of Pepper is that they may well do a deal with you to write off the shortfall if you agree to the voluntary sale of the house.
If you are paying €1,365 per month at the moment, then you should be able to rent for cheaper. If you are paying only €200 a month, and even then, for only some months, then you won't be able to get anything cheaper.
But if you can get out of that mortgage, with the shortfall written off, it would be a good outcome.
The alternative would a Personal Insolvency Arrangement. But if you are paying only €200 a month, you will not get a PIA.
Brendan
Consult a Personal Insolvency Practitioner. Based on what you are saying, you can go for a PIA. That might write down the mortgage and let you keep the house. However, it will probably be vetoed by Pepper.
Pepper might be able to veto the PIA at the creditors meeting, but on "Review" to the Circuit Court the judge could over rule Pepper's veto and implement the proposed PIA, provided it fulfilled all of the criteria.
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