Stephen Curtis (centre) pictured with staff members from Market House Insolvency Services Ltd. Included are Valerie Bright, Liam Duffy, Cheryl Rainey and Paul Carr
Market House Insolvency Services Limited (MHIS) in association with Home for Life held a workshop on personal insolvency and mortgage-to-rent solutions at the Mount Errigal Hotel, Letterkenny, on January 22.
The Workshop was attended by local MABS representatives, solicitors and accountants and provided information on assessing mortgage-to-rent as a means of solving serious mortgage debt problems along with personal insolvency solutions such as Personal Insolvency Arrangements, Debt Settlement Arrangements or Bankruptcy.
MHIS is a personal insolvency practice located in Market Square, Letterkenny and since 2014 has been helping people find solutions for their debt problems.
Paul Carr, the Personal Insolvency Practitioner (PIP) at Market House Insolvency has seen an increase in the number of enquiries regarding serious mortgage arrears and saving family homes. Many people have contacted our office recently expressing real concern about the sale of their mortgage loans to ‘Vulture Funds’.
MHIS held the Workshop in association with Home For Life as it has recognised a need to inform practitioners across the legal and financial sectors that there are ways of dealing with mortgage debt via a Personal Insolvency Arrangement and/or mortgage-to-rent.
Many people have had their debt written down or written off through the Personal Insolvency process whilst remaining in their family homes.
The Abhaile Scheme assists people with mortgage arrears to engage a Personal Insolvency Practitioner (PIP).
The scheme will cover the cost of an initial consultation with the PIP. The PIP will provide a formal report setting out the options open to the individual and will recommend the best course of action to deal with their debt.
To qualify for assistance from the Scheme an individual must be in mortgage arrears on their family home and are at risk of losing their home. Abhaile Vouchers can be obtained from your local MABS office or directly from a PIP.
So, if you are having problems with your mortgage, are facing repossession proceedings or if your mortgage has been sold to a ‘Vulture Fund’ please contact our offices at any time or book an appointment for your preferred time. You can also call us on 074 91 22188 or email us on firstname.lastname@example.org
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