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The McNamaras, €2.9M debt write-off, some deal!

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135

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    #62
    Hoboo
    Registered Users Posts: 3,566 ✭✭✭Hoboo


    jmayo wrote: »
    Don't forget what profession Ms Lowe has.
    One can't have a member of the bar on the housing list after all. :rolleyes:



    I absolutely detest people with your fooking mindset.
    It is total gobshystery to think that they are sticking it to some mythical system, to "the bankers", to the vulture funds etc.

    These two owe Bank of Ireland €550,000.

    I like many others in this country are BOI customers and we will end up covering that debt, not some fooking bank employee or executive, not some investor. :mad::mad:

    The plonkers who think there is nothing wrong with these debt write downs don't realise that those debts have to be covered by some other actual person and in this case it is the other customers of the banks that they owe money to.

    Why are mortgage rates so high in Ireland?
    Maybe if you didn't have massive fooking write-offs for plonkers like this couple or had confiscation of assets after few months of non repayment we might have cheaper rates due to more competition from foreign banks willing to set up here.


    And this is why economics shouldn't be discussed in pubs. Clueless.


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    #63
    Harry Palmr
    Closed Accounts Posts: 40,061 ✭✭✭✭Harry Palmr


    Can one be a member of the bar as a bankrupt?


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    #64
    B65team
    Registered Users Posts: 19 ✭B65team


    That house they live in is worth far more than €550k anyway.


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    #65
    Allinall
    Registered Users Posts: 6,740 ✭✭✭Allinall


    Harry Palmr wrote: »
    Can one be a member of the bar as a bankrupt?

    I doubt it, but neither of these are bankrupt.


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    #66
    rafatoni
    Registered Users Posts: 469 ✭✭rafatoni


    Sure didn't we all party


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    #67
    dubrov
    Registered Users Posts: 3,582 ✭✭✭dubrov


    blanch152 wrote: »
    The taxpayer is paying for everyone who keeps their house and doesn't pay their debts. That is wrong.

    Not the taxpayer directly but the lenders will be plugging the hole. The government is still a major shareholder in banks
    blanch152 wrote: »
    The person staying in the house is keeping up prices for the next generation. That is wrong.

    No but they are staying in a house well above their means. They move up 100,000 places while everyone else moves down 1.

    blanch152 wrote: »
    The banks not being able to get back their money is keeping up interest rates for the next generation. That is wrong.

    Banks have already admitted this is true. If they were making windfall profits you'd expect foreign banks to be flooding in here.
    blanch152 wrote: »
    People like them living in houses being supported by the taxpayer when so many are homeless and renting. That is wrong.

    In fairness they are being supported by mortgage payers. A lot of people need help but not to support the lifestyle they are living.
    blanch152 wrote: »
    Left-wing parties who are supposed to protect the homeless and the renters leading the charge to look after the likes of McNamara. That is wrong.
    I'll stay out of that one.
    blanch152 wrote: »
    Fine Gael not having the courage to face down the misinformed and mistaken left-wing agenda. That is wrong.
    I think they are more afraid of the media. They don't seem to have any appetite to change things.

    blanch152 wrote: »
    People absolving Fianna Fail of responsibility because it all stems from their bailout. That is wrong.

    FF did cause a much bigger recession that should have occurred. Polls would suggest that outside Dublin this has already been forgotten.


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    #68
    Odyssey 2005
    Registered Users Posts: 21,065 ✭✭✭✭Odyssey 2005


    is_that_so wrote: »
    No idea, story just states the €500K family home is their main asset now and it also says other properties were sold to get out of what they imagined as "temporary" financial difficulties.

    500k wouldn't buy their garden.


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    #69
    Odyssey 2005
    Registered Users Posts: 21,065 ✭✭✭✭Odyssey 2005


    rafatoni wrote: »
    How are the kids still allowed to go to private school if they arent paying the fees??:eek:

    Do you know who my mummy and daddy are !!!. That's how


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    #70
    dubrov
    Registered Users Posts: 3,582 ✭✭✭dubrov


    Odyssey 2005 wrote: »
    Do you know who my mummy and daddy are !!!. That's how

    That wouldn't work.

    They clearly still have access to money but it is out of reach of the bank.


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    #71
    Hotblack Desiato
    Registered Users Posts: 35,078 ✭✭✭✭Hotblack Desiato


    Hoboo wrote: »
    Best of luck to them.

    Borrow millions in the hope of making millions more, then when it all goes tits up walk away from your debts and get a free gaff too. Yeah :rolleyes:
    If anything it will help others in the same situation.

    Every bank customer and everyone with a mortgage or looking for one will suffer because of this carry on.

    is_that_so wrote: »
    No idea, story just states the €500K family home is their main asset now

    It also says they owe well over €2m on this "500k" home. I wonder who did that 500k valuation, and when.

    Allinall wrote: »
    I doubt it, but neither of these are bankrupt.

    Do you mean financially, or morally?

    © 1982 Sinclair Research Ltd



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    #72
    BattleCorp
    Registered Users Posts: 11,789 ✭✭✭✭BattleCorp


    Hoboo wrote: »
    OUTRAGE!!!!!!

    Best of luck to them. If anything it will help others in the same situation. I'm not sure why anyone should be sickened (other than jealousy at the thoughts of someone getting more than them)

    You do realise that it's us that have given them the present of €2.9m?


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    #73
    donkeykong5
    Registered Users Posts: 7,259 ✭✭✭donkeykong5


    Harry Palmr wrote: »
    I look forward to the sob story on the LLS.
    First show on the next season. !


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    #74
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 76,577 Admin ✭✭✭✭✭Beasty


    Matt Barrett wrote: »
    Aren't you the lad accused me of always commenting after you post even though I never had and you're new?
    Missed the point, but don't let that put you off. Now go on out and play in the garden.

    If you have a problem with a post or poster report it. Do not react in-thread


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    #75
    ChikiChiki
    Closed Accounts Posts: 4,950 ✭✭✭ChikiChiki


    Dangerous precedent. Ronan Ryan and Pamela Flood to get off the hook next after not bothering to pay a mortgage for 9 years. If that happens there will be carnage, why would people bother paying.


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    #76
    NoteAgent
    Closed Accounts Posts: 103 ✭✭NoteAgent


    "Sweet deal for the elite" - LMAO you have low standards if you consider these two "elite".


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    #77
    NoteAgent
    Closed Accounts Posts: 103 ✭✭NoteAgent


    I don't see how this is their fault. It was the bank that took the risk that the couple's after tax earnings could service the loan. They couldn't so its the banks fault and therefore the bank that will take the hit - as it should be.

    But hey - don't miss a good opportunity to have a go at someone who has more than you have.


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    #78
    NoteAgent
    Closed Accounts Posts: 103 ✭✭NoteAgent


    Portsalon wrote: »
    It's the culture and the era of the parasite - (as we can see every day in compensation claims too).

    No one is ever personally responsible for anything any more. It's always someone else's fault, generally either the gubberment's or the bankers'.

    Yep. Journal.ie comment section as I call them.

    Everything is the politicians fault.
    or landlords fault.
    or wealthy people's fault.

    What they don't realise is that the day they start taking personal responsibility for themselves is the day they start their journey to becoming wealthy.


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    #79
    James Brown
    Closed Accounts Posts: 16,013 ✭✭✭✭James Brown


    NoteAgent wrote: »
    I don't see how this is their fault. It was the bank that took the risk that the couple's after tax earnings could service the loan. They couldn't so its the banks fault and therefore the bank that will take the hit - as it should be.

    But hey - don't miss a good opportunity to have a go at someone who has more than you have.

    What happened the last time the banks lost their arse on bad investments?

    Also AIB won't be paying tax on any profits for the next 30 years so it's a win win for some not so much for others.

    They are chancers getting off light. Having money written off most of us will never be in a position to owe.
    That's the point. You do the 'nation of begrudgers' if it makes you feel better.
    As the man said, but sure we all partied....


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    #80
    James Brown
    Closed Accounts Posts: 16,013 ✭✭✭✭James Brown


    NoteAgent wrote: »
    Yep. Journal.ie comment section as I call them.

    Everything is the politicians fault.
    or landlords fault.
    or wealthy people's fault.

    What they don't realise is that the day they start taking personal responsibility for themselves is the day they start their journey to becoming wealthy.

    Do you see the irony here? Worked the opposite for Frank and Theresa now didn't it?


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    #81
    NoteAgent
    Closed Accounts Posts: 103 ✭✭NoteAgent


    Matt Barrett wrote: »
    Do you see the irony here? Worked the opposite for Frank and Theresa now didn't it?

    Who said they didn't accept personal responsibility? They have to hand over a sizeable amount of cash and as far as I can see they have been stripped of all assets bar the house they live in.

    I'm just pointing out that there seems top be this rhetoric in Ireland that all poor people are supposedly virtuous people that deserved to be praised at any opportunity given and that they never do anything wrong, and that all wealthy people are evil and didn't earn their money through any hard work, deferred gratification, or intelligence but were instead just lucky, broke the law, or inherited their money.


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    #82
    lola85
    Closed Accounts Posts: 667 ✭✭✭lola85


    Matt Barrett wrote: »
    What happened the last time the banks lost their arse on bed investments?

    Also AIB won't be paying tax on any profits for the next 30 years so it's a win win for some not so much for others.

    They are chancers getting off light. Having money written off most of us will never be in a position to owe.
    That's the point. You do the 'nation of begrudgers' if it makes you feel better.
    As the man said, but sure we all partied....

    You’d be the first giving out about vulture funds and house repossessions or Noonan.

    What’s changed?


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    #83
    _Brian
    Registered Users Posts: 18,591 ✭✭✭✭_Brian


    Morrisseeee wrote: »
    The latest sweet deal for the elite is > Frank McNamara and Theresa Lowe.
    They had "what appears to be an incredible deal will see €2.9m in debts written off".
    "..Mr Justice McDonald sided with the couple." :confused:

    It makes me very mad to see this kinda stuff happening, a sweet deal for some and for others you're thrown out on the street, house gone.

    Owe the bank €100k and you have a problem.
    Owe the bank €2million and they have a problem

    It’s always been this way.


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    #84
    TheRiverman
    Registered Users Posts: 6,176 ✭✭✭TheRiverman


    Harry Palmr wrote: »
    I look forward to the sob story on the LLS.

    Roll it there Colette.


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    #85
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭Oasis1974


    I thought these 2 were both dead the same McNamara couple who died in Tenerife 3 years ago they were suppose to from telly land?


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    #86
    MontgomeryClift
    Registered Users Posts: 1,061 ✭✭✭MontgomeryClift


    Allegedly this same couple had a large debt (well into six figures in £) written off by Bank of Ireland in the late 80s or early 90s for no other reason than they were on the telly.

    It seems they have a long history of not paying debts.


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    #87
    lola85
    Closed Accounts Posts: 667 ✭✭✭lola85


    MontgomeryClift wrote: »
    Allegedly this same couple had a large debt (well into six figures in £) written off by Bank of Ireland in the late 80s or early 90s for no other reason than they were on the telly.

    It seems they have a long history of not paying debts.

    Sure DCC are owed 60 million in rent arrears.

    Only idiots pay their way in this country.


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    #88
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Morrisseeee wrote: »
    The latest sweet deal for the elite is > Frank McNamara and Theresa Lowe.

    The bar must be set really low if Theresa Lowe and Frank McNamara are part of "the elite".


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    #89
    Baron Kurtz
    Closed Accounts Posts: 1,261 ✭✭✭Baron Kurtz


    What was she thinking getting up on that guy in the first place!


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    #90
    Keyzer
    Registered Users Posts: 4,331 ✭✭✭Keyzer


    Serious question, can anyone explain to me why they had this amount of debt written off?


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    #91
    Squiggle
    Registered Users Posts: 1,255 ✭✭✭Squiggle


    Keyzer wrote: »
    Serious question, can anyone explain to me why they had this amount of debt written off?

    Tanager would have fared worse if McNamara and Lowe had gone bankrupt. With the PIA Tanager will receive 27c in the euro, with a bankruptcy it would have been 22c in the euro. PIAs are all about the Maths, but that wouldn't be the popular narrative.


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