Mary Hanafin (Dún Laoghaire, Fianna Fail)

Yes. The statutory code has it written into it that mortgage providers must recommend that people go to MABS. This is written in formally and will, hopefully, improve the situation. We put in that provision to ensure that those, almost sub-prime, lenders most likely to evict people would be obliged to negotiate with borrowers and MABS. As we know, people approaching MABS may have debt owed to a range of creditors, including banks and financial institutions, credit unions, electricity and gas companies, and moneylenders. MABS NDL, the national support company, works closely with the Financial Regulator and the Irish Bankers Federation to ensure that the best advice is available to people.

I already mentioned the statutory code and the advice MABS offers. It provides budgeting advice on setting up accounts with local credit unions. It does tremendous work for people with particular financial difficulties. The telephone helpline is particularly significant for people who need immediate advice. Over 90% of callers to the helpline find that their money management and budgeting issues can be resolved with the assistance of the helpline advisor. It is a great support to people to have somebody at the other end of the telephone line who is able to provide good advice. Some 10% of callers or more difficult cases are referred to the local MABS for appointment.

See this speech in context