While it’s all perks and bonuses for those at the top, a sick 51-year-old man is at risk of homelessness over an outstanding €32,000 debt.
Ger Lonergan was just one of over two hundred repossessions cases presented before the County Registrar Pat Wallace at Limerick Court house yesterday.
The 51-year-old took out a mortgage of IR£33,000 in 1995 on the home he was born in, to pay off some tax arrears. He continued to make regular payments until he became sick in 2007. At that stage, the loan had been reduced to just €3,500.
But due to his illness, he was forced to give up his job as a plasterer, so he was unable to keep up the repayments. The loan has ballooned to €32,000 due to interest and penalties.
Permanent TSB, who must be named and shamed, have now moved in to repossess a sick man’s home, where he lives with his wife Noreen and their two daughters.
Mr. Lonerhan has said “It’s stressful to be honest. My working days are over. It took me four years to get disability payment, which is €78 a week. They [Permanent TSB] are looking for possession of my house. Four of us live there,”
“I have offered to pay them 10pc of what they are looking for, but I have had no correspondence with them. I’ve submitted all the medical evidence.”
The case has been adjourned until May 08.