very easy to say your debt is your own……..I’m sorry then if thats the case why are we bailing out developers, setting up Nama and pumping money into a disease pool known as Anglo Irish bank. See this argument by the new smug in society who didnt get huge mortgages and didn’t have the so called celtic tiger lifestyle is quiet disturbing, when we consider as a country we have no problem watching 1billion euros heading to bondholders, new stealth taxes and charges that pretty much pay for the bondholders and banks. But when it comes to the ordinary joe soap looking for a break that could in time be a benefit to the economy cos people will have money to spend well jesus we cant be having that no no no way cos like I didn’t get what they had and blah blah blah, grow up Ireland and wake up and see who the real leeches on our country are rather than attacking those who need help most!

Debt slaves make the best slaves. Banks wouldn’t have it any other way.

I think it most likely that any legislation drafted by our quivering quislings will benefit bankers rather than citizens. I’m more than open to being proved wrong but a cursory glance at the political/financial/european events of the past five years in particular should be enough to tease out the odds on this.

It’s such a shame we all can’t become unsecured Irish bondholders, as we wouldn’t need to worry about insolvency, as we would be getting paid back every cent plus interest on our risky bets thanks to a toothless Irish Schoolteacher Government who wont negotiate on behalf of their people.

What a coincidence, the Irish Government have let the unsecured Irish bondholders write their own rules and now they are letting the banks write their own rules.
Why ?
Because, in a lot of cases they are the same people.
Surprising?

http://politico.ie/crisisjam/8236-that-bondholder-list-cut-out-and-keep-version.html

”The Irish government”.
”Europuppets”

Big improvement in what was there before. Give it a chance. At least some of the requests of the banks were ignored especially their wish that the ceiling be set at 1 million. If you cannot get agreement from the banks you can go bankrupt 3 years is a hell of a lot better then the current 12.

The banks should not have been give veto powers. That is just another example of the state deferring the national interest to suit the powerful.

If you don’t like the bank’s version of the law, simply cancel your credit card or pay off your balance if you can. Credit card debt is the WORST kind of debt. The constant marketing promising you a “new and better life” along with predatory lending rates insure huge profit margins and enormous amounts of money sucked out of the local economy for use by multi-national gambling firms like Goldman and their ilk.
Cancel your cards. Stop using them.
For Gopod’s sake, if you find the household charge unacceptable, how on earth can you continue to pay 11% interest on your debt?

Ireland the country were nobody takes responsibility for anything and blames everyone else. I wonder how many of these people would hand over any profits they made from the fake boom to the prudent tax payer?…yes you would be right not one of them they would go on buying nice cars and nice holidays….but when the gamble does not pay off and there is no profits then they start asking for more free money and get the prudent tax payer to pay for them. only in Ireland. Shocking.we all partied they say …no we fu*king did not all party.

Nobody helped me out with my credit card debt, people need to learn some responsibility. Your debt is no one else’s fault but your own. If you couldn’t afford, why create this debt?

Ye wont pay for peoples so called partying ways yet ye have no problem paying some investor in germany and france who took a gamble like the so called party people, but unlike them were paying the investor back who prob never heard of ireland or will ever contribute to the economy ever again…….but sure were backward ireland more worried about punishing those we see rather than demand to know who those we don’t ever see but seem to cost us the most.

People never worked as hard as they did in the”Celtic tiger”years.they worked over time if they had investment properties they had to maintain them ie painting decorating etc.etc. for all to come to nothing.would ur notion of doing anything in Ireland to improve ur standard of living be knocked out of u or what? People who sat back and did sweet f—all during the “Celtic tiger” years ended up much better off. Well they don’t have to worry about debt as they never bothered.big lesson for future investing in Ireland .dont as they will pull the plug on u.

No.

Its a welcome move. debt forgiveness will help get domestic spending going again. The usual doomsday seekers won’t see it that way. Not good for their party’s ambitions…

The mob is out in force today, with no real understanding on what they are commenting about. That would involve reading the article or the proposed law, This law is very generous to debtors, as it happens. Debts can be written off for less than 20K, which is hardly in the interest of the banks – which we now own, and there is a 3 year period of bankruptcy then you can borrow again down from 112. There could be a debate on the moral hazard here, whines about quislings, bankers, and debt slaves are off topic, and missing the point spectacularly.

Too little , too late and of no use to the people struggling to keep their family homes !

Alan shatter has lied about the Insolvency bill, information of act has revealed that he was turned down on the insolvency bill, so did he write up one of his own, and get a few back leaders to sign up along with what he has been doing, himself and howlin and varadakar, and a few more crooked FG and LB TDS

The bill is weak in a number of areas. The bankruptcy term will now be three years but what is not reported here is that the insolvency service or a creditor can ask for a five year income payments order to then be implemented. That could and probably will mean eights years further austerity for someone going bankrupt in the public.

The is no provision for help for owing more than 3 million other than bankruptcy, unless all creditors allow a PIA.
I look forward to further news on who can be an insolvency practitioner under the act and all the other aspects which are still so vague

All the big solutions require agreement from the creditors. Only time will tell what they think.

The PIA and DSA will not be cheap to put in place due to the amount of reporting and the obligations on the Personal Insolvency Trustee. You may well find that fees of many thousands are sought to put these plans to creditors who then reject them? The PIT will still want to be paid.

The devil here will be in the fine detail and a lot of that is still missing. Nothing will happen anyway until at least Nov and then there will be months and months of sorting processes and procedures out. Believe me I have seen it all before in the UK.

Great, the taxpayer gets to pay some clowns 20k credit card bill. I will agree to this scheme only if bankrupts are branded on their foreheads. At least then I will know who never to buy a drink or do a favour for again.