If your loan is sold to a vulture fund or another bank all of the original contracts remain the same – though that includes the obligation to make repayments.

AIB isn’t selling residential home loans, which carry special protections.

While the legal situation doesn’t change, the lender’s approach can. In some cases vulture funds are more open to writing off debt, if they can get cash upfront from the debtor. But, they are also far less embarrassed than local banks about taking hard legal action against defaulters.

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