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re: Settin record straight on mortgage arrears

Posted by jj on June 08, 2011 at 09:26:40:

In Reply to: re: Settin record straight on mortgage arrears posted by jj on June 06, 2011 at 12:13:51:

Attached is a Irish Times article from yesterday - random piece - with three court cases mentioned

Bank of Scotland versus client with 65k arrears - payment of 10k allowed the case to be adjourned subject to plan detailing how the remainder of the arrears are to be progressed - not unreasonable.

Bank of Scotland versus client(s) with arrears of 35k who have shown no willingness to engage (weren't even present in court) where the judge granted the order, with no stay (appeal).

Final case mentioned is INBS against a client who has recently found a new job and willing to pay 900 a month. Bank agreed to the adjournement but not sure it is enough so examining his further income and expenditure.

Again seems reasonable.

But I don't think anyone can object in the second case where they will be evicted because they have not engaged with the borrower.

My advice, is to engage as soon as possible. I think it is obvious that it is in your own interest to engage early rather than late.

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