PIA vs Bankruptcy. Is the difference in return important?

Desesperado

Registered User
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Hi

I know it's far from an exact science but would anyone here care to hazard a guess on the probable "acceptance rate" of each of the following proposals?
What I'm trying to ascertain is to what extent (if any) is the bank's decision affected by the size of the differential between the bankruptcy outcome and PIA outcome?

Scenario 1: PIA 60k (vs Bankruptcy 50k)

Scenario 2: PIA 100k (vs Bankruptcy 50k)


Background:
I have unsecured debt that I will not be able to repay. I'd prefer to keep my home and if possible do a PIA.

My home has moved into positive equity. If I go bankrupt the bank will get about €50,000.

I was not in arrears Jan 2015 so "no-veto" PIA does not apply. If the PIA is rejected I will have no choice but to go bankrupt given that I will never be able to repay the amount owed.

Many thanks.
 
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