Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

It was mentioned there is a pilot project in regard to dealing with the residual amount. I have put forward a piece of legislation, which will come before the House on Friday, which will force the banks to deal with that at the repossession stage. It should also be the case that the bank deal with the residual amount where it is looking for an assisted bond for sale. I am aware of customers who want to surrender their house voluntarily. However, Permanent TSB says they must sign the dotted line and hand over their house and only then will the bank decide what happens regarding the residual amount.

They feel the bank is bullying them into handing over their assets by taking away other options such as personal insolvency or bankruptcy. The banks want the property and will decide the rest afterward. Why is the pilot project the bank suggested not being rolled out across the board, given the low take-up? People should at least be fully informed of what the bank's intention is with the residual amount.