Niall Collins (Limerick, Fianna Fail) | Oireachtas source

One could also view this morning's news of AIB’s arrangement with the Irish Mortgage Holders' Association, an arrangement set outside of the parameters of the insolvency legislation, as pointing to a perceived failure of the legislation. The point is that the banks still have a veto in the whole process, while all the cards are stacked against those who find themselves in mortgage arrears and who are being strangled by personal debt. How will the Minister get more personal insolvency practitioners? He said he understands there are more in the licensing and application process. What is he doing to incentivise people to become practitioners? There are 120,000 mortgages in arrears of more than 90 days. These people will need to be able to avail of the insolvency service.

If the marketplace for personal insolvency practitioners is being controlled by a small number of people, the Minister knows there will be less competition and they will charge more. There is an obligation on the Minister to address this concern. What will he do to address it?

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