Personal Insolvency Arrangement Approved for 57 year old woman!

Personal Insolvency Arrangement(PIA) approved for 57 year old woman in Dublin. Main points to take from this case:
????The 57 year old woman will make mortgage repayments on her home until she reaches the age of 99.
????She got into financial difficulties after losing her job and her mortgage fell into arrears. She lost her husband 2 years ago and unfortunately at the time of his death had no insurance in place as it had lapsed.
????The objecting creditor was PTSB. The Personal Insolvency Arrangement however gave a better return for creditors than if the debtor was forced into Bankruptcy.
????Should the debtor die before the end of the mortgage term, the remainder of the mortgage will be paid from her estate.
????The property is valued at €342,000 with €104,000 owed to the mortgage. Her arrears are to be capitalised and the mortgage extended for 42 years. She will get a 12 month moratorium to pay PIP Fees and a small dividend to her other creditors.
????This PIA was approved by Judge Mary Enright.
If you or someone you know is struggling with mortgage arrears or unsecured debt, contact R Hendy & Co today and look into your Personal Insolvency options. We have two Personal Insolvency Practitioners that can definitely try get a suitable PIA approved for you!! Phone 0402 29376 extension 1 today.
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