S
Strat
Guest
Yesterday we received a telephone notice from PTSB that our house would be heading down the line of court proceedings.
We were in our own business from 2006 to 2009 - construction related and it went under - resulting in my husband having a €100k guarantee on his back.
We are both are in employment now, but obviously still have debts resulting from non payment of salaries for about 10 months.
We are trying our best to pay "something" off the interest only (now at 2,900 p/m), but obviously we still need to live (frugally) as well.
We have a pension fund worth 250K which will be worth (est) 600K on maturity in 17 years / 8 years before mortgage will be paid off.
We would really love to be able to off set our mortgage against this pension fund (no longer contributing / set up new PRSA) but it seems that you have to be terminally ill to move your pension or release it.
Why is there not a policy for releasing it and allowing you to live and continue to work in Ireland and contribute to life. It seems unbelievable that you can take early release if you are dying?
We would really appreciate any view/direction on this, or if you have any other options, we are in a situation that is dire.
My husband is talking emigration now, and this will have a knock on effect as he heads up a new company in Ireland, but if he leaves, 6 people will be unemployed.
We are running out of ideas, any help or guidance would be appreciated.
thanks in advance
We were in our own business from 2006 to 2009 - construction related and it went under - resulting in my husband having a €100k guarantee on his back.
We are both are in employment now, but obviously still have debts resulting from non payment of salaries for about 10 months.
We are trying our best to pay "something" off the interest only (now at 2,900 p/m), but obviously we still need to live (frugally) as well.
We have a pension fund worth 250K which will be worth (est) 600K on maturity in 17 years / 8 years before mortgage will be paid off.
We would really love to be able to off set our mortgage against this pension fund (no longer contributing / set up new PRSA) but it seems that you have to be terminally ill to move your pension or release it.
Why is there not a policy for releasing it and allowing you to live and continue to work in Ireland and contribute to life. It seems unbelievable that you can take early release if you are dying?
We would really appreciate any view/direction on this, or if you have any other options, we are in a situation that is dire.
My husband is talking emigration now, and this will have a knock on effect as he heads up a new company in Ireland, but if he leaves, 6 people will be unemployed.
We are running out of ideas, any help or guidance would be appreciated.
thanks in advance