Mortgage debt after 7 years

K

Kenlouth

Registered User
Messages
18
Handed back keys to ptsb, house was sold leaving a shortfall in 2016 of 70k.
Have heard nothing from them in 7 years until January 2024.
They are now requesting the shortfall of 70k which I would be in no position to pay at all. No job and living in a HAP property.
Any advice would be appreciated as now very worried.
 
Genuine question. What consequences are you worried about if you have nothing to give the bank (or nothing for the bank to take)?
 
PGF2016 said:
Genuine question. What consequences are you worried about if you have nothing to give the bank (or nothing for the bank to take)?
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Thanks for replying, just worried what action they can take if any. I have absolutely nothing to give or for them to take. I live day by day with no savings etc
 
Kenlouth said:
Thanks for replying, just worried what action they can take if any. I have absolutely nothing to give or for them to take. I live day by day with no savings etc
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You sound like a candidate for a write off. Will let others here advise how to work that. Good luck.
 
talk to MABS.

On the face of it, you could get a Debt Relief Notice

Debt Relief Notices

People on very low incomes who cannot pay their debts may apply for a Debt Relief Notice.
www.citizensinformation.ie www.citizensinformation.ie

There are some other options but I think a DRN sounds best.

Personal insolvency options

There are 3 debt resolution procedures to help people with unsustainable debt to reach agreements with their creditors.
www.citizensinformation.ie www.citizensinformation.ie
 
Brendan Burgess said:
talk to MABS.

On the face of it, you could get a Debt Relief Notice

Debt Relief Notices

People on very low incomes who cannot pay their debts may apply for a Debt Relief Notice.
www.citizensinformation.ie www.citizensinformation.ie

There are some other options but I think a DRN sounds best.

Personal insolvency options

There are 3 debt resolution procedures to help people with unsustainable debt to reach agreements with their creditors.
www.citizensinformation.ie www.citizensinformation.ie
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On looking, is that not only for 35k and under?
 
I am a PIP, discount all the above speak to w Solicitor about whether debt is statute barred.

If not then look at DSA and/or Bankruptcy
 
Hello all, on the topic Personal Insolvency, we were discharged 2.5 years ago after a 5 year insolvency plan, would we still only be able to apply for any type of loan after a further 6 years of being discharged? and is our credit rating only cleared after 6 years of being discharged? any info would help. Thanks
 
AnonJoy123 said:
Hello all, on the topic Personal Insolvency, we were discharged 2.5 years ago after a 5 year insolvency plan, would we still only be able to apply for any type of loan after a further 6 years of being discharged? and is our credit rating only cleared after 6 years of being discharged? any info would help. Thanks
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Thats down to each individual lenders appetite. Nobody can give you a straight answer
 
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