S
SunShine Boy
Guest
Thanks K-man.... I think this is going to be a fairly long and drawn out process. I wanted to take a proactive approach and suggest to the Bank that the partnership start paying say €100 per week... just to show that they are making an effort and to chip away at outstanding balance. Our solicitor didn't support this. He wants to wait til the sale goes through (which hopefully it will !!!! ) and then approach the Bank with a new proposal.
He would rather offer them a lump sum of say 30k (from my father's pension tax-free cash on drawdown) and try to get the rest written off.
Csirl... you are right.... if the property had rose in value we wouldn't be in this mess.... if the company hadn't been liquidated we wouldn't have been under much pressure to sell immediately as the company effectively paid the mortgage. Ah well, it's all a learning curve I guess !
He would rather offer them a lump sum of say 30k (from my father's pension tax-free cash on drawdown) and try to get the rest written off.
Csirl... you are right.... if the property had rose in value we wouldn't be in this mess.... if the company hadn't been liquidated we wouldn't have been under much pressure to sell immediately as the company effectively paid the mortgage. Ah well, it's all a learning curve I guess !