asked the Minister for Industry and Commerce if he is yet in a position to state what is the result of the inquiries that were being made into the hardships suffered by certain persons owing to the strict insistence on the legal rights of firms supplying goods on the "hire purchase" system whereby, if there was a default after 90 per cent. of the payments had been made, the defaulter lost all right to the goods and received no consideration for the payments that had been made; and if he intends to introduce proposals for legislation to protect the position of such victims of the "hire purchase" system.
Ceisteanna—Questions. Oral Answers. - The “Hire Purchase” System.
I have had this matter examined. No complaints from the public regarding abuses of the hire-purchase system have been received in my Department, and on the information at my disposal I am not satisfied that the system needs to be regulated by new legislation.