Money Advice and Budgeting Service

Tuesday, 28 May 2013

Questions (145)

Maureen O'Sullivan

Question:

145. Deputy Maureen O'Sullivan asked the Minister for Finance if the Money Advice and Budgeting Service is being considered for the pilot project of coordinated resolution of multiple debts and if its extensive experience of debt advice service here will be taken into consideration along with its principles of free, independent and confidential service and its community based presence across Ireland; if the UK based company Step Change is being considered for the pilot project as well; and if he will make a statement on the matter. [25118/13]

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Written answers

Minister for Finance

The Deputy may wish to note that I replied to a number of Parliamentary Questions on this issue in the House last week. The Central Bank has advised that it has been agreed among the lender participants to use an independent third party service provider as the most appropriate way to engage with borrowers, whose consent to participate will be sought and will be required in order to take part in the pilot. I am informed by the Central Bank that discussions are underway to determine the most appropriate provider and that no decision on this has yet been made. However, I also understand that an important consideration for the Central Bank in this matter, due to the short timelines involved, is the ability of the provider to provide an effective and efficient service at short notice.