All News

Personal insolvency bill provides flexibility for homeowners

July 26, 2012

The Society of Chartered Surveyors Ireland (SCSI), the largest professional body for property and construction professionals in Ireland, has welcomed the publication of the Personal Insolvency Bill.  

The SCSI has said that the Bill will provide some assistance to those who are experiencing significant financial hardship as a result of the economic downturn.

Ed Carey, Chairman of the Residential Group of the SCSI said “Under the terms of the EU-IMF bailout, the Government is required to introduce new measures dealing with personal and mortgage debt. This Bill will provide more flexibility for people dealing with unsustainable debts and mortgages."
 
"Furthermore, the provisions that are designed to allow people to own and live in their own home if the person wishes to and can afford to, provide those most affected by the downturn with some comfort in what  are very difficult circumstances,” Carey concluded.

ICREA