AIB "wrote off" the debt of 1900 people, "who are we??" That social media

Indians Daily 📧: newsindiansdaily@gmail.com March 03, 2023 0

Dublin: Allied Irish Bank (AIB) executives will tell an Oireachtas committee today that almost 2,000 AIB customers received 90% of their loans written off in the years following the global financial crisis. The bank's executives will appear before the Oireachtas Finance Committee today to answer questions from some of its borrowers about the debt write-off.

The number of borrowers who received a reduction of more than 90% of their loan, excluding those who went through bankruptcy, was about 1,900. AIB representatives say this represents a proportion of just 1% compared to around 150,000 customer decisions.

The opening statement from AIB says:
“We are obviously aware of recent commentary about our approach to supporting difficult customers and the policies that underpin it. ""We have maintained our position that we are neither able nor entitled to discuss the details of any particular account, regardless of the historical or current relationship with the customer involved."
The bank states that it is trying to reach a final settlement with the borrowers, which in certain circumstances could include a write-off of the outstanding debt. These circumstances will vary according to the circumstances of the borrower, but the principles of rescission governing the position of the customer and the bank are consistently applied in all cases,” AIB stated.

The statement said the bank has a proven track record in supporting customers in distress. They state that they have a strong governance and policy framework for dealing with customers whose accounts are challenged. In the minority of cases where customers refuse to engage with the bank, AIB said it would seek to redress its interests "in the most appropriate manner".

The questions were raised after it was revealed that former Kilkenny hurler DJ Carey had written off his €9.5 million debt to €60,000 in 2017.

But the bank's statements were criticized on social media in very strong language. We don't know who gave it, so are we clowns? Unfortunately, many aspects of this interpretation of the unlucky and the unsecured ar