Paul Joyce
A series of High Court decisions this year has clarified the range of possibilities for dealing with insolvent debtors mortgages, a legal policy analyst with FLAC (Free Legal Advice Centres) has said.
Paul Joyce, senior policy analyst at FLAC, spoke to Irish Legal News following the High Courts decision to reject a banks proposal to freeze 135,000 of a couples 285,000 mortgage for 23 years.
Instead, the court approved a personal insolvency arrangement writing off around 242,000 of their debt, including 165,000 due to the bank.
Mr Joyce said Ms Justice Marie Bakers ruling her fifth personal insolvency ruling this year suggested a shift away from the warehousing of debt in favour of write-offs for insolvent debt…
Read the full article at: https://www.irishlegal.com/7369/high-court-rulings-suggest-shift-towards-write-offs-over-split-mortgages/