You need to work out the following:
1. Date of Judgment - interest accrues at 8% per annum from that date.
2. Actual amount of Judgment and costs.
3. Value of house
4. Capital amount outstanding on your mortgage - if you have a mortgage. If you do, the equity in the property is the amount of value in the house ( if you sold it) when you subtract the value of the mortgage.
Now you have a figure. And the question is, is it worth while for PTSB to accept a settlement figure from you?
They are entitled to look at your income and expenditure also to see if you could enter into phased repayments.
And if you approach them, you are prodding the hornets nest - is it conceivable that they have forgotten about the debt?
mf