The couple saw their interest rate dropped to 2.5% over 25 years.
A Laois couple being awarded a much lower rate of interest in Tullamore Circuit Court is ‘significant.’
That's according to Solicitor Anthony Joyce.
Their Personal Insolvency Practitioner argued their debt could be repaid, if it was brought down to the value of the home they were living in, and stretched over 25 years at a rate of 2.5%.
Mr. Joyce says they were awarded the lower rate, because the servicer acting on behalf of the vulture funds couldn't argue why that arrangement was unfair.
He says if you're struggling with debt, visit a PIP: