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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