WHAT DOES NON-CO-OPERATING MEAN ?
If you have entered into an alternative repayment arrangement with us and since then there has been a three-month period during which: • You have failed to pay the new repayments under the alternative repayment arrangement in full and you: • You have failed to contact, or respond to any communication from us, or a third party acting for us; or • You have contacted, or responded to communications from us, or a third party acting for us, but have not done everything required for us to complete an assessment of your circumstances, and: • We have sent you a warning letter as required by the code, but you have not carried out the actions in that letter. The consequences of ‘not co-operating’ are serious. Those consequences are set out in the code and include the following. •The MARP no longer applies. • We may apply legal fees, charges and extra interest on arrears. • We may commence legal proceedings to repossess your property immediately after you are classified as ‘not co-operating’. In this case, irrespective of how a property is repossessed and disposed of, you will remain liable for the outstanding debt, including any accrued interest, charges, legal, selling and other related costs. • You may no longer be eligible for Personal Insolvency Arrangement (PIA) under the Personal Insolvency Act 2012. For information on PIAs, contact the Insolvency Service of Ireland. Their contact details are on pages 14 /15.
If you have not entered into an alternative repayment arrangement with us and there has been a three-month period during which: • You have failed to pay your mortgage repayments in full, or you have made your mortgage repayments in full but are still in arrears, and: • You have failed to contact or respond to any communications from us, or a third party acting for us.
or
• You have contacted, or responded to communications from us, or a third party acting for us, but have not done everything required to enable us to complete an assessment of your circumstances; and • We have sent you a warning letter as required by the code, but you have not carried out the actions specified in that letter.
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Contact Us: 053 94 88709 | arrearssupport@alturacu.ie
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