I submitted my response to compensation received from AIB. (I felt there had not been enough compensation given)
The overcharging led to the sale of BTL properties which in turn led to insolvency.
AIB acknowledged this in their reply but also stated that when you breakdown the total compensation , €3,800 was for any distress etc. and they felt this was appropriate based on the model they use for calculating .
i.e. both parties agree the course of events - where we disagree is what is the appropriate level of compensation.
(Note I was also given the standard €25k for forved sale of BTL property - but the 3,800 was portion allotted the distress compensation. They referenced this in reply to my direct point re looking for additional compensation due to insolvency)
Needless to say, I do not believe €3,800 to be a satisfactory amount of compensation for distress given it directly resulted in my insolvency. Not to mention the very real financial cost of renting versus being able to get a mortgage while this is on my credit record for next 6 years (I don't own a home)
Has anyone had an experience with the tracker panel re being given additional compensation due to insolvency? And if so, may I ask ballpark how much extra? (Feel free to PM if more comfortable).
The overcharging led to the sale of BTL properties which in turn led to insolvency.
AIB acknowledged this in their reply but also stated that when you breakdown the total compensation , €3,800 was for any distress etc. and they felt this was appropriate based on the model they use for calculating .
i.e. both parties agree the course of events - where we disagree is what is the appropriate level of compensation.
(Note I was also given the standard €25k for forved sale of BTL property - but the 3,800 was portion allotted the distress compensation. They referenced this in reply to my direct point re looking for additional compensation due to insolvency)
Needless to say, I do not believe €3,800 to be a satisfactory amount of compensation for distress given it directly resulted in my insolvency. Not to mention the very real financial cost of renting versus being able to get a mortgage while this is on my credit record for next 6 years (I don't own a home)
So it is now with the Tracker panel - awaiting their response.
Has anyone had an experience with the tracker panel re being given additional compensation due to insolvency? And if so, may I ask ballpark how much extra? (Feel free to PM if more comfortable).
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