Oireachtas Joint and Select Committees
Wednesday, 30 April 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Mortgage Arrears Resolution Process (Resumed): Insolvency Service of Ireland
11:40 am
Mr. Lorcan O'Connor:
I agree, but we must start somewhere. Doubling every three weeks means it will not take long before we reach a reasonable number. It is important to show that the new cases are, in the majority, PIAs. There are 12 cases before the court for new protective certificates and the majority are PIAs. There is traction and it is pointing to the fact that by the autumn there will be a significant number of successful PIAs in place. Every successful arrangement returns the person to solvency, so each of the arrangements is of huge value.