Aideen Hayden (Labour) | Oireachtas source

I thank the Opposition for a very constructive debate yesterday on the issue of mortgage arrears. I welcome the publication today of the personal insolvency guidelines. It is important to acknowledge that they are a minimum and they go some way to answering the incredible uncertainty among people who are in debt. Now anyone approaching a lending institution and enduring the humiliating experience of their bills being examined knows that at least these guidelines will give some measure of what they can expect at the very least from a lending institution. We were all agreed yesterday that banks need to be held to account. There was genuine agreement on all sides of the House that we are not happy with the way in which banks are treating borrowers in difficulty. I am personally very concerned about this issue of a case-by-case resolution of problems. It reminds me of the "Life of Brian"; we are all individuals, except we have no idea how we are to be treated. We have no idea whether what is being offered is a good deal. I reiterate my call to the Leader to ask the Minister for Finance to come to the House to have a discussion on the role of banks in Irish society, particularly in the context of how they are dealing with borrowers in difficulty. It is clear that there is not a level playing field. Allowing €250 for people to get expert advice when they have been offered a deal by a lending institution to which they cannot probably, in all truth, say, "No", is way too little and way too late. Expert, independent advice must be available for anyone who is dealing with a borrowing crisis. Nothing less is sufficient.