Looking for advice on pip.

Discussion in 'Personal Insolvency, bankruptcy, etc' started by Tricky waters, 12 Dec 2018.

  1. Tricky waters

    Tricky waters New Member

    Posts:
    1
    Hi,
    I’m a single mum, living in a house bought with my ex (never married) He moved out over 3 years. (Not contributing) The bank are treating me as a single borrow now.They have offered me a deal but I was advised by mabs not to sign it. I’m looking for advice on a pip is that a good idea. I have sent many emails to mortgage holders.ie, they only replied today to say they require more information, but now Iv missed my deadline date (08th Dec) to sign with PTSB. I have been in contact with them asking for an extension on the offer but got a letter today to say the offer has been canx.
    As of Dec monthly payments will be 1400.00

    New restructure agreement
    Part capital 346 x Eur 941.86.

    There are arrears on the mortgage of 68,790.25. When I finish paying my mortgage at 71 the arrears of unpaid capital due at maturity will be 245,330.00

    Total payment 572,158.21

    Overall mortgage bank owed 203,992.64
    Cost of credit 113,660.18

    (Value of house at the mo 240,000)
    I am paying 1030.00 a month but not covering the life ass of 78.00.

    Old mortgage agreement
    293 x 1324.53 388,380.29
    Arrears 68,790.25
    Overall mortgage bal owed 368,165.00

    Cost of credit 90,332.46

    I can only afford 500 a month and I rent a room for 520.00. If the dad keeps up child maintenance (been getting it 3 months now) I could afford to pay 1250 /1300.00 but that’s a big if.
     
  2. Trickybusiness

    Trickybusiness New Member

    Posts:
    5
    Hello.

    I’m still in the same situation waiting on advice, I can’t get any on here and I have contacted a few companies on mabs list, some of these pip people are working off gmail accounts, which makes we wonder. The only company that got back was grant t and they take over my finance for 6 years.
    I need a pip who is also a solicitor as I have other requirements.
    I would like to know from other people in my same situation???
     
  3. gahfan

    gahfan Frequent Poster

    Posts:
    95
    Hi guys McCambridge Duffy are supposed to be good. Best of luck
     
  4. gahfan

    gahfan Frequent Poster

    Posts:
    95
    I knew virtually nothing about PIA's but have picked up a good bit about the whole process recently .

    Ask if you've any questions and I'll try to help.

    Looking into getting one myself
     
  5. Trickybusiness

    Trickybusiness New Member

    Posts:
    5
    Hi gahfan
    Thank you for your reply, and recommendations. I will contact them on Monday.
    I am totally Clueless to all of this. My ex doesn’t want me to go down in insolvency route as he doesn’t want to go insolvent, but he isn’t giving me anything towards the mortgage. He won’t even engage with the bank. His name is on the deeds also.

    I would like to go with a solicitor as I believe they can do the process in one year and not 6 like GT. but I could be wrong.
     
  6. gahfan

    gahfan Frequent Poster

    Posts:
    95

    No problem Trickybusiness. Sometimes it's possible that 1 of the 2 people take out a PIA but both incomes are taken into consideration as 1 income wouldn't be enough. You could try that.

    I think 1 year is more likely if you have a lump sum, if not then it's likely to be a longer period of time like 5 years.
     
  7. gahfan

    gahfan Frequent Poster

    Posts:
    95
  8. TLO

    TLO Frequent Poster

    Posts:
    218
    Hi Tricky, in case it helps, Anthony Joyce is both a solicitor and a PIP. Contact details at www.anthonyjoyce.ie
     
  9. Trickybusiness

    Trickybusiness New Member

    Posts:
    5
    Thanks TLO