Michael McGrath (Cork South Central, Fianna Fail)
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I understand that any residual debt may be personal or be converted to personal debt. There is the potential for judgments or judgment mortgages against somebody's home and so on. We can tease that out.

There is one issue in the interaction between these proposals and the Private Member's Bill I introduced on behalf of Fianna Fáil, which was agreed unanimously in the House, that gives rise to concern. The directive provides that member states could not impose additional rules on credit purchasers beyond those provided for in the proposed directive in accordance with Article 15.2. How does that dovetail with the Private Member's Bill, which has not yet gone to Committee Stage where it will be subject to amendments but will likely become law relatively soon, whereas this will not come into force in the next 12 months? Is there a conflict between these two or is that conflict dealt with by virtue of the fact that all of this applies only to loans originated after 14 March 2018?