Josepha Madigan Ulster Bank debt

It's no secret that the financial crisis of 2008 hit Ireland hard. Many people lost their jobs, their homes, and their savings. One of the most high-profile cases was that of Josepha Madigan, a former Fine Gael TD who was pursued by Ulster Bank for a debt of €225,000.

Madigan had taken out a loan from Ulster Bank in 2005 to buy a house in Dublin. However, she lost her job in 2008 and was unable to keep up with the repayments.

Ulster Bank began legal proceedings against Madigan in 2019. The bank claimed that she owed them €225,869, including interest and penalties.

Madigan initially defended the case, but she eventually reached a settlement with the bank. The details of the settlement were not disclosed, but it is believed that Madigan agreed to repay a reduced amount of the debt.

The case of Josepha Madigan is a reminder of the devastating impact that the financial crisis had on many people in Ireland. It is also a reminder of the importance of seeking professional advice if you are struggling to repay your debts.

If you are in financial difficulty, there are a number of organizations that can help you. You can contact the Money Advice and Budgeting Service (MABS) on 0761 07 2000 or visit their website at www.mabs.ie.