The High Court has approved Personal Insolvency Arrangements that will allow a retired couple aged in their mid 70s to rent back their Dublin home after it is sold to a housing agency.
Under the terms of the PIA Thomas and Catherine Carroll will remain in their home under a social tenancy agreement at Oaklands Avenue, in Swords Co Dublin following its sale to a housing agency to help pay off their debts of 385,000.
Under the proposed arrangement they will be allowed to remain in the property, which has been valued at 315,000 for the rest of their lives.
The court heard that the couple became insolvent and unable to repay the debts, including loans and their mortgage they had taken out with various parties.
As a result of their situation,…
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