Oireachtas Joint and Select Committees

Wednesday, 8 March 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Investment Funds: Discussion

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

When the person in trouble comes in and MABS has to contact one of the credit servicing firms, the front-of-house people, as it were, how easy is it to get to the entity that actually holds the loan? The front-of-house company will say it has to go back to the credit committee in the other entity, which means considerable time is lost. I deem this to be deliberate on the part of the vulture funds to frustrate any effort to get something sorted. Does MABS experience the same degree of frustration in being unable to get to the person making the decision? Sometimes MABS is chasing a company that has changed.

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