Michael Healy-Rae (Kerry, Independent)
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133. To ask the Minister for Finance the status of a debt collection company (details supplied); and if he will make a statement on the matter. [19320/16]

Michael Noonan (Limerick City, Fine Gael)
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Firstly, the Central Bank have confirmed that there is no entity named Pepper Debt Collections regulated by the Central Bank. The Deputy may be referring to Pepper Finance Corporation (Ireland) DAC ("Pepper")  which is taken to be authorised to carry on the business of a retail credit firm having met the transitional provision for existing retail credit firms as set out in section 34E of the Consumer Protection (Regulation of Credit Servicing) Act 2015.

By virtue of their Retail Credit Firm authorisation, Pepper is permitted, among other things, to conduct credit servicing activity i.e. manage or administer loans either on its own behalf or on behalf of another firm

In the case where a mortgage loan is sold, it is important to remember that the mortgage terms and conditions including loan repayments continue to apply, regardless of who is servicing the mortgage loan. This includes any contractual terms relating to the return of title deeds. Further, the relevant consumer protections will continue to apply - including the Code of Conduct on Mortgage Arrears 2013 (CCMA) and Consumer Protection Code 2012.

Nonetheless, if a consumer is dissatisfied with how their account is being managed they may wish to make a formal complaint regarding this matter to Pepper. The Central Bank's Consumer Protection Code 2012 sets out timeframes within which a regulated entity must respond to complaints.  If the consumer is not satisfied with the outcome of their complaint, they can refer the matter to the Financial Services Ombudsman. The Financial Services Ombudsman investigates, in an impartial and independent manner, complaints from individual customers and small businesses who have unresolved disputes with financial service providers which are regulated by the Central Bank.  

Finally, you may wish to know that a searchable register of all entities regulated by the Central Bank is available here: .