Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

I concur.

Mr. Lehane referred to bankruptcy becoming a solution. I regard it as a measure of last resort. It has many implications. Just because it represents the pattern in other countries does not necessarily mean it should be the pattern here. My logic is that there is clearly a problem with the way the personal insolvency arrangement is working at present, certainly in respect of two of the institutions whose mortgage books hold a substantial proportion of all mortgages. I accept Mr. O'Connor's point but when it comes to bankruptcy, the family home is involved. Admittedly, there are cases of voluntary surrender; we have come across them. The surrender represents a huge burden lifted from the debtor's shoulders. I would like to see the new pre-bankruptcy process we have established examined by the Insolvency Service of Ireland to determine whether there are legislative measures that could be implemented, sooner rather than later, to make it work more effectively. The bankruptcy legislation has reduced the number of years.