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08-03-2019, 20:54   #31
griffinlee
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imo the V fund went easy on this couple as to not look like the bad guy in the press. Bad publicity fuels hatred for these funds. this couple are very very fortunate
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08-03-2019, 21:10   #32
Arthur Daley
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The V Fund won't care one way or another. They are not going to pay a dime for this. They are not that gullible. The Irish taxpayer is.
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08-03-2019, 21:30   #33
Fr Tod Umptious
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Originally Posted by Franz Von Peppercorn View Post
Not paying a mortgage saved them 300k+.
The hypocrisy here is beyond belief.
Non payment of mortgage meant that they no longer allowed live in the house they lived in for 9 years and they are unlikely to get any sort of a loan (personal, business, car etc) again in the foreseeable future with anything like a normal interest rate.

If you were offered that outcome by spending 300k+ on something instead of your mortgage would you take it ?
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08-03-2019, 21:35   #34
Dav010
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In the case of their home they speculated to accumulate and it didn’t work out. <snip> The fact is for 9 years they lived in a prime property rent free without making 1€ repayment, how can this be deserving of sympathy? This is why we pay higher interest rates.

Last edited by Graham; 08-03-2019 at 22:32. Reason: allegation removed
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08-03-2019, 21:37   #35
NIMAN
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It does appear to prove the theory that the more you owe the more leeway you are given.

These folk are allowed to walk away from over €1mill debt, yet if you owe €50,000 then they will chase you til its repaid.
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08-03-2019, 21:40   #36
 
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Originally Posted by Fr Tod Umptious View Post
Non payment of mortgage meant that they no longer allowed live in the house they lived in for 9 years and they are unlikely to get any sort of a loan (personal, business, car etc) again in the foreseeable future with anything like a normal interest rate.

If you were offered that outcome by spending 300k+ on something instead of your mortgage would you take it ?
Yeh I’d buy a house for 300k. In fact 300k would pay off my mortgage and then some.

You keep trying to promote a deliberate act as some kind of misfortune.
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08-03-2019, 21:44   #37
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It does appear to prove the theory that the more you owe the more leeway you are given.

These folk are allowed to walk away from over €1mill debt, yet if you owe €50,000 then they will chase you til its repaid.
And if you're rubbing shoulders with celebs, attractive looking and have a lovely smile....

I know a few similar couples in Clare who are living it up and haven't paid any of their mortgages in years.

Still making money and going on holidays, new car's etc.

There's definitely something wrong somewhere.
No way should they have gotten away with that.

I guarantee you, they'll get on with their lives and they'll not feel one bit of remorse, shame or guilt.

It's just another day for the middle classes, laughing at everyone else.

This will make that couple feel invincible now.

They'll be celebrating and cracking open the champers, and they'll land on their feet.....
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08-03-2019, 21:58   #38
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Not sure I agree with all above in that I’m sure there is some embarrassment felt.

I lived in the US for a couple of years and I have to say I admire their system.

Business people/entrepreneurs take a chance and if it doesn’t work out, bankruptcy for a couple of years, then they go again with a clean slate, but, they get turfed out on their hole quick. They don’t have it both ways. They start again and it’s almost like a right of passage and in many ways is admired.

Here, you borrow big, you can’t access credit again when things go bad, but the creditor takes an enormous hit and that gets passed on to the rest of us.
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08-03-2019, 22:03   #39
Fr Tod Umptious
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Yeh I’d buy a house for 300k. In fact 300k would pay off my mortgage and then some.

You keep trying to promote a deliberate act as some kind of misfortune.


No I'm not

I saying a deliberate act of spending 300+k over 9 years on something other than ones mortgage has consequences such as a repossession and a bad credit rating.

It's not a win win like some here think it is.

It's not a win at all, it's a loss.
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08-03-2019, 22:19   #40
punisher5112
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It does appear to prove the theory that the more you owe the more leeway you are given.

These folk are allowed to walk away from over €1mill debt, yet if you owe €50,000 then they will chase you til its repaid.
Wrong if it's 1 cent or even €1.50 they will send letters, call and end up sending out debt collection agency letters.
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08-03-2019, 22:31   #41
Graham
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Leave the unfounded allegations/guesses out please.

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08-03-2019, 23:25   #42
Rosina1969
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9 years rent and mortgage free????!!!!! I'd say they will buy another house no problem.

Life is bloody unfair. One law for the rich another for the poor. Im facing homelessness cos I cant recover my feckin deposit, from a landlord who has blatantly spent it, and not paid his mortgage for 2 years, and has been receiving my rent.

If I hadn't paid rent for the past 9 years I'd have approx. 150,000 grand. Or I could have been living a life instead of this month to month existence I'm struggling so bad just putting food on the table and paying bills. I bet all their kids do all their activities they want to.

Last edited by Rosina1969; 08-03-2019 at 23:26. Reason: **** I'd have 150,000 not 15 grand lol!!!!!!!
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08-03-2019, 23:53   #43
klaaaz
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Originally Posted by Fr Tod Umptious View Post
[/b]
I saying a deliberate act of spending 300+k over 9 years on something other than ones mortgage has consequences such as a repossession and a bad credit rating.

It's not a win win like some here think it is.

It's not a win at all, it's a loss.
Really? This couple are wealthy celebrities, they will have no problem earning multitudes again due to their connections among the elite in society, a poor credit rating won't even figure when they "earn" six figures pa in their careers. The vast vast majority of us do not earn that much and would suffer from a bad credit rating for life with no hope of ever owning a house, running a business or having a simple car loan. This wealthy entitled couple will not ever be paupers so your poor mouth does not apply!
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11-03-2019, 11:40   #44
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This is shocking tbf. As a previous poster says, if it was Joe Schlo not paying on a €300k house, and he stayed in it for nine years while different lenders didn't make a consistent attempt to repossess, the public would have had more sympathy.

Even if these two hadn't paid a penny for nine years, it'd be more palatable if they were stuck with at least a portion of the remaining €400k - rolled into the mortgage for their new home or whatever. It's not as if the town mine has been closed is it? Both of them have substantial earning power.

I've said before that "moral hazard" isn't really an argument when it is applied to cases that are a result of the financial crisis, as they are just the other side of the coin to the bank bailouts. But this is a nonsense. One party had decided to give up their lucrative career and have three kids, all while being unable to pay ANYTHING towards their mortgage. Must be nice to be them. And what was he doing for nine years where they were unable to pay anything towards their mortgage? Clearly they had enough to pay a lawyer.

And really, so what if they can't get a credit card or a car loan again. They shouldn't get a credit card or a car loan. Or any loan. They are untrustworthy with other people's money.
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11-03-2019, 13:56   #45
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Off topic posts deleted.

If you want to have a general gossip about the couple in question, take it somewhere else.
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