PTSB- Jingle mail and debt write off

[Delboy]

Jingle mail and a write off of most of the debts from PTSB for the more desperate cases on paper
http://www.independent.ie/business/...an-then-walk-away-from-mortgage-30316260.html
It was on Morning Ireland also.

While I'd like to see more detail- I'd worry about people playing this and walking away from less desirable gaffs with debts wrote off while holding valuable assets elsewhere- something like this is long overdue. Might help get some badly needed supply out there also

 

[Gerry Canning]

Delboy; Without a doubt some chanchers will play this and get through the net. However Ptsb and the rest have had 4 years drilling into accounts so should know the chanchers V the hopeless.
I would think Ptsb know that an unforced sale is less costly to them than legal eviction on these hopeless cases,it lets ptsb take a clean hit and lets genuine hopeless cases move on.It should also identify messers.
I would expect Ptsb etc to do solid checking to see if these hold other assets and put a clause in to the effect that if hidden assets are found it will be war !.

 

[Brendan Burgess]

Permanent tsb testing new voluntary surrender process

I am not sure if they have announced more details publicly, but they discussed it with the Oireachtas Finance Committee as I reported here