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Borrow €400k from AIB and only pay back €250k

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    #392
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    jay0109 wrote: »
    the 1st story that broke about the 150k write off from AIB for the Dublin family....David Hall said it was 100% unconditional and that if the family's circumstances improved in the future or house values went up, the bank had no comeback at them.
    I expect all AIB deals are like this

    That's not completely correct. €40,000 will be split off and no repayments will be made on this and no interest will accrue. When their circumstances improve, they will resume making payments on the €40,000 debt. There may be more to the deal too.


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    #393
    jay0109
    Registered Users Posts: 2,670 ✭✭✭jay0109


    The_Morrigan wrote: »
    I would say that is pure speculation to be honest, privity of contract would ensure that each agreement is not public knowledge and the banks won't publicise anything like that as there could be an influx of appeals looking for the same terms.

    Hall leads the IMHO and they negotiated the writeoff with AIB for the family. So it's more than speculation...thats it straight from the horses mouth


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    #394
    jay0109
    Registered Users Posts: 2,670 ✭✭✭jay0109


    cookie1977 wrote: »
    That's not completely correct. €40,000 will be split off and no repayments will be made on this and no interest will accrue. When their circumstances improve, they will resume making payments on the €40,000 debt. There may be more to the deal too.

    I know that....bit I never mentioned the warehoused part. I mentioned the written off part and was answering the original poster who asked if there could be any comeback at that


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