Originally Posted by Truth.ie

"We've some good news....and some bad news. "
Did they ask you which one you wanted to hear first?

If only. As luck would have it, I opened the interest rate letter second, so any hopes I had that the first letter was anything other than a computer generated letter were quickly dashed

Originally Posted by Truth.ie

You'll also be hit for child support and maintenance.
Not sure if rent allowance is given when rented to family.
(As you are the Father that would be classed as family)

Under the wonders of Irish law, because I am not married, I am a stranger to my children!

I think a couple of banks released figures today including the 'bad debt' adjustments. In other words, they've already factored in bad debts. It's just a question of allocating.

Originally Posted by Niall996

I think a couple of banks released figures today including the 'bad debt' adjustments. In other words, they've already factored in bad debts. It's just a question of allocating.

As long as it's done fairly. Even if that means me losing out.

Originally Posted by ShoutingIsLeadership

If only. As luck would have it, I opened the interest rate letter second, so any hopes I had that the first letter was anything other than a computer generated letter were quickly dashed

You should use both letters to your advantage in case things really go pear shaped and you end up in court defending your right to stay in your home. Contact them and tell them you want to take them up on their offer contained in the first letter especially now that you received the second letter telling you you are now in trouble.

Originally Posted by Watcher2

You should use both letters to your advantage in case things really go pear shaped and you end up in court defending your right to stay in your home. Contact them and tell them you want to take them up on their offer contained in the first letter especially now that you received the second letter telling you you are now in trouble.

I think that's a sensible course of action. I might tell them I am thinking of becoming a politician too

Originally Posted by Marvar88

Eh am I missing something here. You cannot declare bankruptcy against your own property and simply continue on living there.

Originally Posted by Aindriu

You can't go bankrupt on a mortgage. Only on unsecured debt.

ShoutingIsLeadership >> Have you clarified your own personal answers, to the generality in the above points.


Keep in mind
The UK is not & never has been >> some haven designed for the average person in debt.
Pro rata
The UK has 15 times the repossession rate of family homes than Ireland has.
Neither is the UK a destination of easy employment >> or one expecting any growth _{^{(the very opposite)}}
UK Unemployment for under 25 males >> is currently over 25% (_{^{along with Ireland 35%, one of the worst rates anywhere in Europe)}}


Best of luck with the decisions >> do what ever is best for you & your family.

Originally Posted by Toidissatafu

ShoutingIsLeadership >> Have you clarified your own personal answers, to the generality in the above points.




Best of luck with the decisions >> do what ever is best for you & your family.

Thank you. Nope, I am still attempting to clarify my own personal answers.

have you kept any correspondance with the bank?

make sure that you do and any letters you do send them send via registered post so
they can't 'go missing'