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

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I am asking the witnesses in all honesty. I will not give the banks credit, but I acknowledge that, in my experience, they have not been moving for wholesale repossessions. This is not particularly because they are nice, but because it would not be in their interests. Where someone has no option and is forced to give up the family home because there is no sustainable solution available, it has dramatic consequences, yet there is still an outstanding amount and Bank of Ireland will chase that person down for it and take him or her to court, even though it knows the person has no money. Is the bank serious? That is an extraordinarily vindictive and vicious thing to do to people who have already been innocent victims of a mess that was created by the banks.

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