That’s the experience of Alan McGee who’s chair of the Association of Personal Insolvency Practitioners. He’s the author of ‘Personal Insolvency Law in Ireland’. He says the media has given the wrong impression regarding a recent legal judgment. A circuit court judge approved a personal insolvency arrangement for a couple who had got into difficulty repaying their mortgage. The judge ordered their lender Pepper Finance to lower their mortgage interest rate and put the repayments on a fixed rate. Mr McGee says the media gave the impression that this judgment was ground-breaking when, in fact, there is precedent.
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