New Supports for Mortgage Holders in Arrears

July 2015

A recent seminar organised by Clare Citizens Information Service (CIS) outlined how the Money Advice and Budgeting Service (MABS) will play a greater role in offering information, advice and assistance to borrowers in arrears.

Speaking at the seminar, Angela Black, Chief Executive, CIB outlined a number of new measures to support mortgage holders who are in arrears, including a greater role for MABS. "Additional services will be provided to ensure that borrowers have access to information on the range of supports and options available, advice on the ones most suited to their needs, and assistance in pursuing such options, where necessary". She added: "The new supports will be rolled out by MABS offices on a phased basis, following a process of engagement with the Citizens Information Board (CIB) and MABS."

Collete Bennet, MABS ndl , provided an analysis of the experience of MABS clients with mortgage debt. Such debt is also accompanied by other debts and issues, which MABS money advice staff work through with clients helping them to come to a resolution that is mutually-acceptable, affordable and sustainable. Colette outlined the MABS ethos in supporting clients to manage their finances and deal with their debt issues as well as setting out the steps involved in the MABS Money Advice process.

Paul Joyce, Senior Policy Analyst with FLAC, evaluated the implementation of the Personal Insolvency Act 2012 and tracked the latest figures showing the level of mortgage arrears in Ireland, providing analysis and highlighting critical areas of concern.

Leona McMahon who provides legal advice and information to individuals and families who are in mortgage arrears explained what happens when people are faced with repossession of their home. Such "possession" hearings take place in the District Court and she provided details on this process.

David Williams, Accountant, who is also a Personal Insolvency Practitioner (PIP) and a member of the Financial Information Service Centre (FISC) at Ennis Citizens Information Centre explained the bankruptcy process and outcomes for someone who is wholly or partially unable to repay their debts.

Attending the Clare CIS seminar were  Colette Bennet, MABS ndl, Angela Black, Chief Executive, CIB, David Williams, JW Williams & Co, Leona McMahon, Solicitor and Mairead Doyle, FLAC Solicitor and Board member, Clare CIS.

Attending the Clare CIS seminar were Colette Bennet, MABS ndl, Angela Black, Chief Executive, CIB, David Williams, JW Williams & Co, Leona McMahon, Solicitor and Mairead Doyle, FLAC Solicitor and Board member, Clare CIS.

Angela Black, Chief Executive, CIB , Zse Zarga, FLAC Centre Co-ordinator and Frank Doherty, FLAC Solicitor ,Ennis.

Angela Black, Chief Executive, CIB , Zse Zarga, FLAC Centre Co-ordinator and Frank Doherty, FLAC Solicitor ,Ennis.

Angela Black, Chief Executive, CIB, Paul Woulfe, Manager, Clare CIS, M Doyle, solicitor and board member, Clare CIS, Tim Ryan, Chair MABS ndl, Zse Zarga, FLAC, Catriona O Connor, FLAC Solicitor and Frank Doherty, FLAC Solicitor.

Angela Black, Chief Executive, CIB, Paul Woulfe, Manager, Clare CIS, M Doyle, solicitor and board member, Clare CIS, Tim Ryan, Chair MABS ndl, Zse Zarga, FLAC, Catriona O Connor, FLAC Solicitor and Frank Doherty, FLAC Solicitor.