# case study



## wrecked (23 Nov 2012)

Brendan Burgess said:


> I am looking for case studies to use to lobby for changes to the Personal Insolvency Bill. I note quite a few people have asked questions without really giving all the information necessary.
> 
> If people complete the following form, it will help others to advise them and see if the Bill can help them.


 
*Personal and income details*

Income self: *nurse *
Income history: *salary significantly reduced with cuts etc. separated 4 years. no child support*
Income partner/spouse: *not known. no spouse *
number of children *3, 2 in 3rd level education, 1 in primary*
Amount of Mortgage Interest Supplement received
*Home loan*

Lender: *ulster bank*
Amount outstanding: *148k*
Value of home: *90k*
Interest rate: specify whether tracker or SVR or fixed rate *svr*
Monthly repayment *848*
Amount in arrears *27,000*

Summary of discussions and agreements with the bank, *in Marp since Jan 2011  , had offer on house of 92k but lost sale due to bank not engaging with me.no contact from bank for past 6 months, now ringing daily wanting proposal or they will go to court. *

*Other loans and creditors - *delete those which don't apply to you
Overdraft* 500*
Credit Card *9000*
Credit Union * Loan of €18,000 against shares of €3,000 *
Family *700*
 solicitor for separation *6000*
*Other savings and investments *


*How important is retaining the family home to you? *
Which of the following best describes your situation?

*I don't care about keeping the family home. *


*Any other relevant information*
 ex husband has walked away. not working so he has no money. i work hard to provide for my kids and repay debts he ran up. bank are really putting pressure on me now.i dont know what to do.
*What is your preferred realistic outcome? *

 i will never be in a position to pay all the debt off.


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## lovelyhorse (24 Nov 2012)

I'm sorry to hear of your separation.

You haven't disclosed your income so it is hard to give advice. 

Were the credit union loans and credit cards etc taken out only in your husbands name or jointly? 

The two in third level education will need to get part time jobs and start supporting themselves. Are they at home? In receipt of grant?  

I am aware of a few nurses who would be carrying larger mortgages but do not have the secondary debt. 

I would prioritise primary bills like food, utilities. Then mortgage. The secondary loans to credit union etc may be unsustainable you will need to go to mabs and see if you can come to an arrangement with those creditors on interest etc. Your arrears on the mortgage are concerning. 

Really need a number on what your earnings, including child benefit etc, and what the repayments and interest rates are on your loans in order to help you make a plan.


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## wrecked (4 Dec 2012)

Thanks for reply. I no longer live in the family home as myself and kids had to leave. I pay 700 rent for where I live now.take home about 2000 per month.older ones can't get work , we live in a small town.house is up for sale, had a cash buyer but lost them as bank were dragging their feet and wouldn't answer one way or another. Ex is keeping himself unemployed so hasn't a penny.


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## manninp2 (5 Dec 2012)

You didn't say whether you receive rent from the house? Or is your ex living in it and not contributing?

Have you been to talk to MABS?

The bank can't ring you daily to pursue a debt, you should take note of each call you receive from them with the time, date and name of the person.


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## wrecked (21 Oct 2013)

*About to go insolvent, is it the right move?*

Am separated, 2 kids in college and one in school. Left high and dry by ex with total debts of approx 180,000. Have just got a cash offer of 60k for my house, leaving about 80k shortfall.am unsure whether to bankrupt or insolvent. Any advice would be welcome. Thanks


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## Bronte (22 Oct 2013)

wrecked said:


> Am separated, 2 kids in college and one in school. Left high and dry by ex with total debts of approx 180,000. Have just got a cash offer of 60k for my house, leaving about 80k shortfall.am unsure whether to bankrupt or insolvent. Any advice would be welcome. Thanks


 
So you currently owe 140K on the house?  Are you able to pay the mortgage, how much do you currently pay the bank.  What is the bank telling you to do?  

I note the bank have lost you another 30K since your last purchaser in 2012 offered 90K.


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## wrecked (11 Nov 2013)

. my ex was living in the house while me and the kids had to leave for safety reasons so i had to rent a house.he has since up and left and gone to uk, the house is in a bad state and i cant move back in. dont pay the bank anything as i cant afford it,just about eating at the moment.


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## Bronte (12 Nov 2013)

wrecked said:


> .just about eating at the moment.


 
Well that's not good. Can you give us a new summary of all your finances and discussions with the bank? Have you been to Mabs for advice? I note it's a year since you first posted but there doesn't seem to be any progress. Are you ignoring letters from the bank or what is going on. You mentioned they had threated court, did they proced with this.  I know it's difficult, but you need to spend some time on trying to sort out your situation as the problem is not going away.  It's in your own best interest to try and stop the misery of the way you are currently living.  A lot of people who come on AAM get a great deal of satisfaction once they try and tackle the problem.


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