Dáil Éireann Debate, Tuesday - 7 May 2013
139. Deputy Charlie McConalogue asked the Minister for Finance his views that a well regulated debt management advice sector can provide assistance to persons with personal debt difficulties who do not qualify for the reliefs set out in the Personal Insolvency Act; and if he will make a statement on the matter. [21262/13]
View answerThe amendment to the Central Bank (Supervision and Enforcement) Bill 2011, which I proposed at Committee Stage, and was agreed on the 24th April 2013, will provide for a regulatory regime for debt management and debt advice companies. On the issue more generally people in debt or in danger of getting into debt can avail of the services of the Money Advice and Budgeting Service (MABS). This is a national, free, confidential and independent service. MABS have offices throughout the State. It is strongly suggested that anyone with debt or budgeting difficulties should approach their local MABS Office with a view to securing a confidential consultation with a money adviser to consider their particular circumstances.
The Deputy should be aware that the Government has introduced a range of additional information and guidance resources to assist mortgage holders through what can be a difficult and stressful process. A dedicated website, www.keepingyourhome.ie , has been put in place to provide general public information on mortgages arrears issues. In addition, there is a Mortgage Arrears Information Helpline, which is established under the aegis of the Citizens Information Board, to provide more tailored information to individual callers. Finally, a panel of accountants has been put in place to provide “one to one” independent advice to borrowers who have been provided with a long term forbearance resolution offer by their lender in respect of a mortgage on their primary home. All of these information services are provided at no direct charge to the users of the service.
