Fighting Pepper, vulture funds and so-called mortgage prisoners

I made a video recently about the decision of the Circuit Court Judge in Tullamore in a Personal Insolvency Arrangement case.

The decision forced Pepper Mortgages to agree to a very much reduced mortgage rate for the hard-pressed borrowers and may, if not reversed, be a hugely significant decision for those who are struggling with home loan (and other) debt.

When I published my video on YouTube, Facebook, TikTok it generated a huge amount of comment from persons who had debt problems and whose debt was being manager by Pepper or some other debt managers.

The comments were along the lines of it being about time vulture funds were run out of the country, why has it taken the judiciary/government so long to do anything about the vulture funds, etc. etc.

What I cannot understand is why these commenters do not put the same amount of energy into entering a Personal Insolvency Arrangement or debt settlement arrangement or one of the schemes made available by the Personal Insolvency Act 2012.

Regardless of the decision in Tullamore circuit court if you have a debt or mortgage outstanding to Pepper or Start or any other entity which has bought home loans you still owe the money.

Rather than “fighting Pepper” or anyone else, for that matter, why not use the law that is available and designed for the purpose to write down your debts? It will be a far more effective method of arriving at a solution to your debt problems than expecting vulture funds or mortgage managers to be “run out of the country”.

Get even, not mad.

P.S. I will be soon publishing a video on my YouTube channel about the electrical contractor who has written off €2.7Million of a €2.9 Million debt through a Personal Insolvency Arrangement approved by the High Court.