Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

We heard the same from some of the other banks but, in fact, debt write-down is taking place after the disposal of property in a repossession or voluntary surrender. In some cases the remaining debt was left there as a legacy issue with no apparent decision as to what would happen with it. What is the situation if a Bank of Ireland mortgage holder goes into a voluntary surrender or the property is repossessed and there is a legacy debt of, say, €100,000? The property has been repossessed because the person cannot afford the payments. Where does he or she stand at the other side of that?