Have you received the letter with the cheque and write-down yet?
You will have a right to appeal the level of compensation paid.
To be fair to AIB, in most cases where they took legal action, the borrower was paying very little and was not engaging.
It wouldn't have mattered if the interest rate was 4.5% , 1% or 0% , if they were paying nothing.
However, if you were engaging and paying a substantial percentage of your monthly payment, then they would not have taken legal action against you had you been on a tracker from the start.
So, in that case, you would have a good claim for additional compensation.
Brendan