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

I thank the Senators for their contributions. We all agree that the repossession of any home should be a last resort. We have enacted the insolvency legislation which provides various mechanisms to assist people in financial difficulty, including the personal insolvency arrangement designed to resolve the debts of individuals or families with their creditors. These arrangements may involve debt forbearance or forgiveness.

I have to take the mock outrage of Fianna Fáil Senators with a grain of salt. In the 14 years Fianna Fáil was in government, it did not reform the insolvency legislation or make a suggestion for alternative debt resolution processes.