Mr. Ger Deering:

If an amount of money is owing, even if it is in dispute, it remains owing until we make a determination. However, we ask financial services providers to be reasonable while the matter is being decided. One of the benefits of the new dispute resolution process is that people can get an agreement within a month, or two or three months, and most matters are resolved very quickly. If a case has to go to adjudication it will take longer, up to another four to six months with the exchange of information and documentary evidence. It is hard to say that the financial institution is not entitled to seek to recover its money during that period but it depends on the nature of the dispute. The dispute is often not over the amount of money owing and sometimes it is unhelpful if a person does not engage. I have seen cases where somebody has stopped paying their mortgage or loan for six months or a year and that does not help anybody because, generally speaking, the money will often remain owing at the end of the process.