Stephen Donnelly (Wicklow, Independent) | Oireachtas source

I thank the Chairman. If someone enters into a debt settlement arrangement on secured debt, particularly in respect of a house, and if an agreement can be arrived at by the bank, the personal insolvency professional and the borrower or borrowers, at the end of the debt settlement period - under the proposed legislation this will be up to six years - is it the bank's understanding that the borrower or borrowers could keep the house? Is it also its understanding that, as part of a debt settlement arrangement, an amount of debt could be surrendered by the bank to the borrower or borrowers?