Ciarán Lynch (Cork South Central, Labour)
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Bank of Ireland and permanent tsb stated they were going to go after legacy debt. Mr. O'Connor has said there are mechanisms available to debtors to deal with it. Will he talk us through the process? According to recent comments made to us by the banks' chief executive officers, if somebody is a Bank of Ireland or permanent tsb customer, he or she disposes of his or her property and there is a legacy debt of €100,000, Bank of Ireland and permanent tsb will come after him or her for it. What is the mechanism in place to deal with this?