(Reuters) - Ireland is to consider a proposal to write off up to 6 billion euros (5.25 billion pounds) worth of mortgage debt in a bid to boost the economy, the country's housing minister said.
How will debt forgiveness affect a person's credit rating? If you have an agreed, contracted solution (say the bank agreed to write off €50k), does your credit rating take a hit?
If this is the case, people will obviously have issues taking out mortgages in the future, but will this not also affect their ability to rent (to an extent)?