Oireachtas Joint and Select Committees
Thursday, 10 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process: (Resumed) Bank of Ireland
12:40 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
From what the witnesses have told me, I am angry about what appears to be their approach to residual debt. Using the previous example of someone who has lost a job or is on a low income, took out a mortgage in good faith, is a victim of the economic collapse, has a family and so on, if that person is forced to give the bank his or her family home, which is an awful thing to have to do for an innocent victim of other people's behaviour, including that of the banks, Bank of Ireland will pursue that person for the residual debt of €100,000 or €150,000. That is cruel.
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