AIB to sell loan books

L

Linseed

Registered User
Messages
6
Can anyone tell me if the information coming out that AIB are selling their 'loan books' what this means for 'offenders' who are currently in negotiations with them ?

I know that where this happened with the likes of foreign banks it was very bad news indeed for stressed borrowers.

Any perspective ?
 
Linseed said:
I know that where this happened with the likes of foreign banks it was very bad news indeed for stressed borrowers.
Click to expand...

Hi Linseed

We were worried that it would be bad news for them, but it actually turned out fine for them. They are now all subject to the Code of Conduct on Mortgage Arrears so they have that protection.

If the mortgage is in a very bad way e.g. deep negative equity, there is a far higher chance that a vulture fund would do a deal such as voluntary sale and write off of the shortfall. AIB hardly ever does that.

Brendan
 
Thanks BB

having trouble breathing at this point with stress.

Despite being very pro-active regards communication with AIB - we were shocked to receive a letter informing us that we were considered non co operating customers and therefore out of MARP - our appeal on this was sent from one desk to another and they then said we missed the 20 day appeals window opportunity....

so I guess that means that they wanted us to be in the bargain basement basket aimed at the vultures ...

I see a tribunal in the next decade (more tax payers money) to investigate how the banks have treated people during and after this crisis.

wonder if this rumour is true ?
 
Being excluded from MARP is not the end of the World. Also it is not permanent. I have had a number of client who have been excluded from MARP for non-co-operation but then subsequently re-input when required info etc arrives. I wouldn't tend to panic about any inference that MARP exclusion would mean that you will be singled out for more severe treatment. Write to the bank and find out what specific issues of non-cooperation caused you to be excluded. If you are in a position to provide that co-operation now then do so and request that you be re-input to MARP. This will not happen immediately but will postpone any consequences of MARP exclusion (most occasions there will be no consequences unless you totally stop paying or are really messing them about).
 
Maybe it is not relevant i see in media that AIB wrote off 600M in Home Mortgages last year
 
trojan said:
Maybe it is not relevant i see in media that AIB wrote off 600M in Home Mortgages last year
Click to expand...
That would reflect irrecoverable debt and would only be w/o after full recovery process had been implemented.
 
You must log in or register to reply here.
Menu
Log in
Register