So far we have seen very few repossessions - will 2013 be the year?
I was surprised by a post I read on here yesterday about a lady who was written to by her bank, telling her that she had an unsustainable mortgage.
This is the first time I have heard of any bank admitting to unsustainability in any way, shape or form. The banks are still heavily in denial. However, I wonder are they getting into stride for the new personal insolvency bill on the 31st March '13.
Another poster on a different thread mentioned how difficult it would be to obtain a PIA.
If it is difficult to obtain a PIA surely this will result in mass repossessions or have I got this totally wrong?
I was surprised by a post I read on here yesterday about a lady who was written to by her bank, telling her that she had an unsustainable mortgage.
This is the first time I have heard of any bank admitting to unsustainability in any way, shape or form. The banks are still heavily in denial. However, I wonder are they getting into stride for the new personal insolvency bill on the 31st March '13.
Another poster on a different thread mentioned how difficult it would be to obtain a PIA.
If it is difficult to obtain a PIA surely this will result in mass repossessions or have I got this totally wrong?