Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Advice on Personal Insolvency Arrangement

  • 13-05-2013 10:10am
    #1
    Bob Bob
    Registered Users, Registered Users 2 Posts: 47 ✭


    I know this scheme is barely started and things are not going to get moving on it until June but I have a few questions about it that I am hoping someone better informed might be able to help me with.

    My self and my partner currently have a mortgage in negative equity. We have never once missed, skipped or were late on any payments. To do that we have sacrificed everything; We don't go out (ever), no holidays, all shopping is store brand, every luxury has either been cut back to minimum or removed completely. I work full time, she part time. We have 2 kids under school age (1 in child care, one soon to be in child care). We have 2 cars both of which are needed for travel to work. We have a credit union loan that was used to consolidate our debits at the start of the recession.

    From what I've been reading of the worked examples on the isi website, and I admit I don't fully understand it, our income AFTER the mortgage and credit union are deducted should be above a certain amount for "Reasonable Living Expenses". Ours is roughly half the guidelines.

    Does it seem reasonable that we have a case to be made once the Scheme is up and running that might help us reign the mortgage a little?


Advertisement