Forgive us this day our daily Debt

So, how is this debt forgiveness meant to work?

I don’t think “forgiveness” will work. What are we forgiving people for?
I’m sorry you bought 3 houses and paid interest only for 7 years and now you’ve no job and even though you had 7 years of living like a king as you never paid your debt off, here is 750k ?

By all means, those that can’t pay their mortgage and are worried about their ability to pay should be helped. See what a person can reasonably pay and postpone debt until it can be paid back. “Forgiveness” is not the right word to be using here.
If poeple have to postpone some debt payment then fair enough. If they are taking holidays, driving a new car and wearing the best of everything then they should get f-all.

Yours etc,

If we werent such a quiet race, subjugated by 800 years of British rule there’d be social revolution over what’s about to happen here.

Debt forgiveness should not happen.

Why do people keep thinking it’s up to everyone else to help them out. I’m really sorry someone held a gun to their heads and forced them to a buy a 300k 3 bedroom “townhouse aparment” in Ballygobackwards Co. Laois just because it was 10 minutes from the train line to Dublin.

In the immortal words of the Undertones it’s gonna happen. And it isn’t going to please a lot of people who will end up doing jack shit about it - other than grumble

I’ll stab someone

Awful vote buying idea and in true irish fashion I can see this working out disastrously in practice like NAMA. reform the bankruptcy laws instead. noone forced the banks to give out stupid mortgages but the state picked up to tab, they shouldnt repeat the same mistake for those came to the banks with stupid investment ideas.

+1, there’s plenty of people out there who borrowed within their means, didnt live the flash life, can just about afford to pay their mortgage and do so, and then these arseholes who felt they’d have no hassle paying pack the 4 bed detached with all the mod cons and jeep outside the door get a forgiveness. Its wrong wrong wrong.

I want my money back from AIB so

Why shouldn’t we pick up the tab for Graham Geraghty’s Gucci wallpaper in fairness? :rolleyes:

Then the master called the servant in. “You wicked servant,” he said. “I canceled all that debt of yours because you begged me to. Shouldn’t you have had mercy on your fellow servant just as I had on you?” In anger his master turned him over to the jailers until he should pay back all he owed.

What would happen me now if I just decided to stop paying my mortgage?

You’d get at least a year before the banks could do anything with you for starters.

My mortgage is with a subsidiary of EBS who are in the middle of being thrown on top of AIB’s dying carcass.

I would have assumed that I’d get a few letters for the first few months getting more threatening as they go. Maybe the odd phone call or knock on the door from a Debt Collection Agency after 6 months or so? I could handle most of that. How long before it gets legal? And what does it do to your “all important credit rating”?

Your credit rating would be fucked, but I think it’s a minimum of a year of non-payment before the banks can commence legal proceedings and even longer if you are seen to be “cooperating” with the lender.

what do you need a credit rating for exactly? ive never had a personal credit card, just use a debit one. second hand cars are cheap as fuck now especially if you can offer cash. cash is king at the moment. what do you need to rent a house - proof of funds? a decent quality of life could be achieved with a fucked credit rating. Look at the NAMA developers sure.

Why don’t you want to pay your mortgage Mac?

There’s a lot better things you could do with the money if the banks aren’t too pushed about getting it back.

The lads who bankrupted the country are getting off scott free out of my (our) pocket
The bums who don’t want to work are having their pockets lined out of my (our) pocket
The people who worked in the companies that helped bankrupt the country are going to get a nice payoff for redundancy tax free out of my (our) pocket
I’m paying more each year to help pay all these lads and in return I get to pay even more to them for the privilege of getting married next year

So I suppose if the developers and everyone else can get away without paying anything, I wanted to give it a try myself to see how it felt.

Ah good stuff, I share your sentiments to the letter to be honest. Thought you were skint or something.

I’ll have you know that my bank (not AIB) rang me yesterday after an “account review” to inform me my account was in great standing and to enquire if I needed any additional products from them, including a personal loan - I nearly choked :smiley:

Yeah I got something similar recently however the rate on the loan was something like 14%, I assume the girl at the other end of the line was wearing a balaclava while on the line.