Govt Urged To Deal With Mortgage Arrears Crisis Immediately

The Government is once again being called to introduce a package of measures to deal with the mortgage arrears crisis.

Fianna Fáil Spokesperson on Finance Michael McGrath TD confirmed a very low number of cases are being dealt with by the Insolvency Service.

Deputy McGrath said: "It now appears that the promised 'package of measures' is being delayed by an ongoing row in government over the proposal to reduce the discharge period from bankruptcy to one year.


"The government must not allow any internal dispute about bankruptcy to delay action for people struggling with debt. According to media leaks, the government looks set to do a major U-turn and will allow a Court to impose a solution in a mortgage arrears situation. Fianna Fáil has been advocating this change over a prolonged period of time and we look forward to seeing the details. Hopefully the penny is finally beginning to drop with the government that they have given the banks too much power."

(CD/MH)