I didn't say the actions that got them into trouble were the actions of normal people Willie,I said she's trying to convey that they're normal people with the same problems and commitments as anybody else who gets themselves into unmanageable debt and focusing on trivial things like her bringing her kids to school misses that point and is a bit weird. Shes looking for sympathy because they're desperate and she thinks she'll need it to get out of the mess,even though it probably wont help. Whether people think she deserves that sympathy or not is up to them but I don't think there will be much of it about. Maybe they don't deserve any and it's right and proper they take the consequences for their actions,but I feel a bit sorry for them all the same.
Hi, While none of us know the full story here, and we never will, what I can tell you from general knowledge of what happens in these cases that nothing happens quickly (the courts won't facilitate it), so this has been going on for years, not just a couple of months. During that period there would have been endless correspondence, attempts to meet and negotiate settlements, or restructure debt etc. The most regular things that tends to happen when dealing with one of the vulture funds is agreement between the parties that they sell the property and there's a debt write off for most, if not all the shortfall after the secured property has been sold. If there's personal resources and the Borrowers have other assets, then these are factored into the equation to agree the amount to be written off, post sale of the property - basically the debt burden is shared in an appropriate manner. This kind of work is being undertaken by the staff at the likes of Pepper and Link every single day. This was clearly a commercial borrowing, it's not a traditional homeloan. In instances where a home is somehow connected with a business or commercial borrowing and cannot be easily separated (such as with some guesthouses or some rural shops and pubs), what typically happens is that if everyone co-operates and works together, there is financial provision of some sort made to help relocate the family (i.e. help them downsize to say a 3 bed house, or whatever is practical), if they don't have any other assets or regular income. Sure, it may not be in the same location, and a flashy detached house in Dalkey, but it's not a case of putting people straight out onto the side of the street either. If the parties are truly unable to agree, and the debt is massively out of control, then you've also got the likes of the Insolvency Service of Ireland to look to, as it facilitates ways of dealing with unmanageable debt. In more difficult cases, sometimes people go to the UK and declare themselves bankrupt, then come back 12 months later with debts erased. Normal people sometimes opt for these options, it's not just certain Newstalk radio presenters etc. There have been literally tens of thousands of commercial loans where problems occurred, the loans were sold to funds etc. You see very few of them in the courts, so when the odd one turns up, you do need to ask yourself how come the large majority of others never ended up in a court room.
No worries babbs. One of the main reasons why I stopped getting in to debates with you long ago was because there was always the subtle little digs, I see nothing has changed.
Genuinely didn't mean it as a subtle dig Willie,but its a fair assumption to make so my apologies if it came across that way.
Owner of train-travelling terrier comes forward Updated / Thursday, 4 Apr 2019 16:18 Tyson AKA Hamish went on a big adventure Tyson AKA Hamish went on a big adventure By Ailbhe Conneely Reporter The owner of the little terrier, who shot to fame when he took the train from Kildare to Dublin yesterday morning, has come forward to claim their dog. The dog was given the name Hamish by Iarnród Éireann staff, but it was confirmed this afternoon that his real name is Tyson. Iarnród Éireann worker Ted Maher (below), who has been looking after the dog after since he took the train from Sallins to Heuston Station yesterday, confirmed that his owner had contacted him. However, Mr Maher said that the dog will need to be microchipped before he is returned. The family will be reunited with Tyson this evening. Hamish update! His owners have been found! His real name is Tyson! He’s getting chipped by @MyLovelyHorseR so if he goes a wandering again, he can be found Family reunion TBC The movie rights are exorbitant! Thank you to everyone for spreading the word! pic.twitter.com/Bt4pJAY7hr — Iarnród Éireann (@IrishRail) April 4, 2019 #Hamish aka Tyson will be microchipped before he is returned by @MyLovelyHorseR where he stayed overnight. The family will be reunited with Tyson this evening — Ailbhe Conneely (@AilbheConneely) April 4, 2019
Haven't time to type huge volumes on this but I have absolutely zero sympathy for those people with the B&B, not because of their address or the sums involved but because they have gone through the entire legal process and lost, now they are misrepresenting the facts, outright lying, and appealing to the lowest common denominator, the court of public opinion. By the way, if things had worked out on the investment they would be multi-millionaires and gracefully taking the profits for that. But when it goes under they shouldn't have responsibility for the losses?? Sure that's great isn't it.
I heard on the radio earlier that 3 people came forward claiming to own that dog Hamish, bit mad that.
The point of it all is that they're saying they're going to be homeless and in fairness that's something that is a concern because the kids don't deserve to to be made another statistic. I don't agree with their cause and I definitely got the impression they were telling half or no truths especially as they seem to be able to stump up quite a significant amount of cash. I Maybe putting a stop on a person being able to put a business mortgage on their principal private property is worth considering, stop people gambling their family home.
That is part of the hyperbole and misrepresentation for me. If they can offer €1.25 million to pay off the mortgage, they will not be homeless. They have a certain standard of living they want to keep, completely understandable but that doesn't make them right. They could buy a B&B somewhere down the country for a fraction of the price, have a home and make a living. But they don't want to do that, again understandably, but don't confuse don't want to, and of course huge life upheaval, with can't, or homelessness. These are the consequences of their choices and their actions, not anyone else's.
I said pretty much as much at the end of the paragraph you quoted but it's pretty much speculation on my part as I've no idea at all of their actual circumstances!
Surely the bank will go after that money if they have it? Bankruptcy looks to be the only option open to them.
In my experience if there is a family home involved, I have never seen people being thrown out on the streets by a bank or lender. There will be a recognition that they need to be able to buy an alternative residence but in this case you would be talking about something like trading down from a €1.5 million property to a €200 - 250k property.
I dont think theres anybody who doesn't think it's a problem of their own making,most likely caused by greed and it's right they're facing the consequences. I still have sympathy for them though because it's a horrible situation for any family to go through.
Agreed. There is a massive difference between a modest family home, and a small mansion with a fancy postal address ... This case reminds me a bit of that "poor" solicitor getting kicked out of his fancy house in Kiliney ...
https://www.irishtimes.com/news/wor...r-deaths-of-children-in-middle-east-1.3852238 Interesting comment from the Pope - but there's plenty of blame to go around.