IBF website - helpinghomeowners.ie

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helpinghomeowners.ie/

Having trouble with your mortgage payments?

Your Guide to Dealing with Mortgage Repayment Difficulties was developed by the Irish Banking Federation in consultation with the Money Advice and Budgeting Service (MABS). This straightforward consumer guide provides clear four-step advice as to what the borrower should do and also spells out what the lender will do in accordance with the IBF Pledge to Homeowners and the statutory Code of Conduct on Mortgage Arrears.

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Doesn’t seem like unreasonable advice.

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They don’t do irony though.

helpinghomeowners.ie/article … ory_id=154

Supporting law reform
IBF welcomes the recent publication of the Law Reform Commission’s “Consultation Paper on Personal Debt Management and Debt Enforcement” and supports key recommendations in that report, including:

• The development of an effective alternative to imprisonment for those who are unable to pay fines and civil debt
• The development of a non-court-based system for dealing with personal debt
• The regulation of debt collection agencies and of commercial debt advice agencies

**In supporting the LRC recommendations, IBF also emphasises the need for any solutions to reflect the importance of the following factors:

• Full transparency as to the debtor’s financial standing
• Good faith on the part of the borrower
• The risk of moral hazard
• The need for sustainable banking – funding and capital impacts**

The IBF has been contributing constructively to the LRC’s consultation process and is continuing to work with MABS, FLAC and other stakeholders on the very important issue of debt management and enforcement.