Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

I am not sure what effect the proposed changes are designed to achieve in the context of the debt relief notice. The current provision is clear in its indication that it is the market value of an asset that is considered, irrespective of whether the asset in question is subject to any charge. In any event, given that the permitted qualifying asset level in this process is €400, I am not sure whether this is a significant consideration. To make the changes the Deputy is proposing would completely alter the nature of the debt relief notice process and could potentially qualify an applicant even where he or she has a large property which is in negative equity. That is not the intention of the process. For this reason, I do not propose to accept the amendments.

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