The personal insolvency regime introduced by the government has been a complete failure and needs to be changed.
The Labour party is trying to distract from an abysmally low take up of the new system by discussing reducing the bankruptcy period from 3-1 years. However this ignores the fact the new system in inherently flawed because bankers have all the power. We should not be driving people struggling to make ends meet into bankruptcy.
Fianna Fáil is calling for an independent mortgage resolution office that will end the bankers veto and re-balance power between ordinary mortgage holders and the banks.