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Finance Minister Michael Noonan said today that the capital is already in Irish banks to allow them to write off loans in a debt forgiveness scheme.
Minister Noonan said that it is a pressing issue for some families and will have to be dealt with, but insisted that it is manageable.
I'm not trolling. I'm just illustrating one of the main flaws of debt forgiveness.
Certainly while the government is still talking about debt forgiveness, there is little incentive to struggle to pay your mortgage.
It's not a flaw because you are unwilling to pay, not unable to pay. People haven't chosen to lose their jobs. No bank will restructure your mortgage or write off debt while allowing you keep a large cash pile. No Court would have sympathy for you if the bank issued proceedings against you if they see you still have a job, brining in the same income and just deciding not to pay. I am against debt forgiveness but arguments like this are as ridiculous as the idea of just writing off debt in the first place.
Or should i quit/get sacked from my job, get debt forgiveness and then get a new job which wouldnt be hard for me?
I guess that any person in mortgage distress would be disheartened by the content in this thread.
There have been suicides, marriage break ups and nervous breakdowns, households where the children are stressed over the their parents fighting and crying as the contemplate losing their homes, a lifetime of debt and being unable to see a way out.
I think this thread does not do justice to the many decent kind hearted and generous people on this forum.
Its not a joke and some of you should be ashamed.
Don't quit, you would have to get sacked for your plan to work.
surely if there was some debt forgiveness scheme in place, the people availing of it would not be able to get another mortgage again. What bank would ever lend to them again?
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