The controversial insolvency laws which took two years to devise are in for an overhaul. A new protocol is being devised which will attempt to make the process easier to use and more straight forward. Noeline Blackwell Director of Free Legal Advice Centres was on the line.
In his television address at the weekend to mark the end of the bailout programme the Taoiseach Enda Kenny said banks must do more to deal with (those in) mortgage distress. But report a from Government yesterday revealed that few people in mortgage arrears have used an independent financial advice service set up last year, though more than 100,000 people remain in difficulties. Sean was joined by Noeline Blackwell Director General of the Free Legal Advice Centres(FLAC), who is not impressed at what’s been done to help those in trouble.
From today people who are in severe financial difficulty will be able to make applications to the Insolvency Service of Ireland to have their debts restructured. It’s a much heralded new approach to dealing with the mortgage crisis here but it will be some time before we can see how effective it is in practice. Joining Sean in studio were Noeline Blackwell, director general of FLAC and financial advisor Michael Dowling who represents 40 former residents of Priory Hall in Dublin.