Debt Settlement Arrangements

UpDownPortadown

New Member
Messages
1
I have mounting unsecured debts, which are border line unmanageable.
I have a mortgage on my home with equity of about €120,000 and a rental property outside the state in negative equity of about €80,000
Am I correct in thinking that I can't apply for or enter in to a Debt Settlement Arrangement if I have secured debt, even if that debt and repayments are manageable.
 

Jim Stafford

Frequent Poster
Messages
459
You can do a DSA provided you can pay your secured debts as they fall due. However, your unsecured creditors might vote against it if they see you are contributing too much towards your overseas debt.

You should see a PIP for a full consultation.

Jim Stafford
 
Top