Alan McGee
Cork solicitor Alan McGee writes on a number of existing schemes designed to solve the issue of distressed debt.
The recent controversy over the impending sale of non-performing loans by PTSB, AIB and Ulster Bank has once again raised public awareness of dealing with distressed debt.
The PTSB proposed sale has generated much debate. The common themes are that the anti-sale advocates believe it is wrong to sell family home loan mortgages to vulture funds who are unregulated entities who have already made significant profit on previous distressed loan purchases. While those who support the sales argue that it is a normal event in the cycle of a distressed loan and that the servicing agents are regulated by the Cent…
Read the full article at: http://www.irishlegal.com/11393/blog-personal-insolvency-best-way-forward/
