Oireachtas Joint and Select Committees
Thursday, 10 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland
12:10 pm
Stephen Donnelly (Wicklow, Independent) | Oireachtas source
Say somebody has a house worth €200,000 and owes Bank of Ireland €300,000. There is an assisted voluntary sale leaving a residual debt of €100,000. That is clearly unsecured debt because there is no asset against it. Am I right that Bank of Ireland will not write down that unsecured debt under any circumstances that do not involve bankruptcy?
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