Enda Kenny today confirmed that the Cabinet has approved the publication of the Personal Insolvency Bill this Friday . He also announced that a series of other measures to assist those in mortgage difficulty had also been agreed.
Mr Kenny said that by this summer, a new Mortgage Information and Advice Service will be in place seek to assist people in mortgage distress. It will involve the rolling out of advice and assistance services across a number of platforms, such as through websites, telephone lines, and through one on one contacts.
Enda Kenny also mentioned that the Government’s Economic Management Council will be meeting with the main banks to to discuss their approach to mortgage arrears. He said that the Government is fulfilling its responsibilities to develop new options for people in debt distress an dnow the banks must show the country that they can help resolve the crisis that is partly of their creation.
He said that thee government will be pressing the banks to accelerate the roll-out of loan modification products for customers in arrears.