My husband will go alone as a separated man. We have two children at home with me. Thankfully the family home is mine since before we married and the debt is his. We don't have a formal separation agreement, will that e a problem? And thanks again
I am unable to name particular banks, but one major bank is now offering debt forgiveness deals (in anticipation of the new Personal Insolvency Arrangements etc.)
There is absolutely no chance that they are doing write-offs without judgments......
From my own personal experience with PTSB what they offered me was voluntary surrender of the properties but want me to voluntarily accept judgement for the negative equity (approx €1.2m).
A new picture is now emerging of "Write-offs" and other solutions with conditions
Jeremy Masding spoke about write offs for unsustainable debt "at the end of" a period of cooperation with the debtor.
We have heard about banks agreeing to the sale of properties in negative equity if the debtor consents to an uncontested judgment
We have heard of banks agreeing to the sale of property in negative equity with a condition of signing an acknowledgment and acceptance of the remaining debt.
We have heard of banks negotiating with buy to let debtors agreeing to a write off of unsustainable debt but only after six years of regular monthly payments and surrender of all assets
So far we have heard no hint of immediate write offs to allow debtors get on with their lives.
I think this is a huge mistake on the part of the banks and will push more and more debtors to the UK bankruptcy option