Case study Insolvency Service's PIA Case Study John

Many PIAs and DSAs will fail.

If John goes into arrears on his mortgage, his mortgage lender won't be too concerned. He can comfortably service the interest and his unsecured debts will be gone.

There isn't much negative equity.

A PIA is not a guarantee that someone will live happily ever after.
 
Many PIAs and DSAs will fail.



A PIA is not a guarantee that someone will live happily ever after.

If most of them will fail than what is the point?

In relation to happily ever after, if you don't give people hope and incentive and a clean sheet then the whole exercise is pointless - maybe I'm being too negative.
 
If I was John and got this deal from a PIA I'd be running around my living room with my jumper over my head doing the aeroplane!
 
If I was John and got this deal from a PIA I'd be running around my living room with my jumper over my head doing the aeroplane!

Be careful, you would probably crash into some book shelves...

or more accurately, your mortgage lender vetoing the proposal.

The PIP can then run around the room with your €1,000 fee doing a helicopter.