Hildegarde Naughton (Fine Gael) | Oireachtas source

I raise the issue of court proceedings against those who are in difficulty with their mortgages. Some 400 such cases are listed before the registrar in Galway and I fully agree with the Taoiseach when he said that issuing proceedings is not the way to engage with people in financial distress. Even if there are some who have difficulty facing up to their problems and engaging with lenders, having court proceedings hanging over them indefinitely may well have the effect of making them retreat more or causing even further distress. I agree with colleagues that what is needed is a review of the insolvency legislation as suggested by the Minister, Deputy Noonan, at the weekend. While the legislation was an advance, the banks are obviously not playing ball. Whatever about sub-prime lenders, the pillar banks were propped up to the tune of billions of euro by the taxpayer and while nobody is suggesting that people can go on living in a home without paying a penny of what is owed, there has to be a middle ground where people can retain their family home, if only for their lifetime, and make a contribution towards their debts. The banks are making money again and it is time that they repaid their debts to society for the help they received.