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Monday 27 March 2023 Dublin: 9°C

# Debt forgiveness

All time
# money woes
Greek and German ministers 'can't even agree to disagree' over debt forgiveness
The two countries have failed to find common ground on the issue.
# Debt Hangover
Ireland got 'stuffed' on banking debt - Martin Wolf
The Financial Times columnist says that the eurozone is being run for “the benefit of creditors”.
# payment problems
Irish mortgage arrears tracked by Fitch are higher than ever
A new report from Fitch also says that price rises in Dublin are fleeting.
# Forgive and forget
Call for SME debt forgiveness to drive recovery
With the market in Ireland dominated by large companies, small business needs to shed the burden of debt and innovate to compete.
Column: Our lack of willingness to promote transparency is damaging developing countries
Ireland cannot give with one hand to developing countries while facilitating tax avoidance at the same time, writes Morina O’Neill.
Column: The UK will continue to be a far friendlier place for those drowning in debt
The new Personal Insolvency Act may work for some but it’s deficient for a sizeable portion of distressed borrowers, writes Ronan Coburn.
Interview: 'People have had enough, debt write-down is the only solution now' - Nick Webb
Do our politicians have it in them to say no more, asks writer and journalist, Nick Webb, who gives his ideas on what should be top of the politician’s to-do list.
# Your Say
Poll: If you were/are in mortgage arrears would you be in favour of renting your home?
Following the recommendations of a report published yesterday on mortgage arrears, we’re asking for your say on the suggestion that the state takes ownership and rents the house back to its former owners.
# Debt forgiveness
Report rules out blanket debt forgiveness on mortgages
Under proposals contained in the report, struggling homeowners would give up their houses but be allowed to rent them back from State bodies or local authorities.
# Debt forgiveness
Keane report on mortgages to be published
The Taoiseach has reaffirmed that there will be no blanket write-off for mortgage holders in arrears.
# Debt forgiveness
Negative equity should not mean debt forgiveness - Rabbitte
The communications minister says “blanket debt forgiveness” is not an option, but that banks should write off loans where there’s a genuine inability to pay.
# Mortgages
Mortgage defaults 'could cost banks up to €10bn' - FF
Michael McGrath believes the ‘worst case scenario’ that went into the stress tests is now a reality – and it’s going to get worse.
# Finance
Michael Noonan: "No magic bullet" for mortgage debt relief
Finance Minister lays out the challenging state of the economy at Oireachtas Finance Committee – but says public finances “remain on track”.
# Debt forgiveness
Banks' capital cannot be 'frittered away' - Noonan
Finance Minister Michael Noonan said this morning that banks need to distinguish between those who can’t pay and those who will not pay their mortgages.
# Debt forgiveness
Govt rules out blanket debt forgiveness - but Noonan says banks can write off mortgages
The Department of Finance says there’s no “one-size-fits-all” solution – but the Minister says banks can afford to absorb some losses.
# Mortgages
One in 14 mortgages in 90 days' arrears
Pressure grows for a general debt amnesty as new Central Bank figures show 7.2 per cent of mortgages to be in arrears.
# Mortgages
Claims for mortgage supplement now five times higher than in 2007
The number of people receiving the Mortgage Interest Supplement is almost 2.5 times higher now than it was in 2008.
# Daily Fix
The Daily Fix: Sunday
In your Sunday Fix: Joan Burton has strong words for the banks; the latest on the storms hitting the US east coast; John Halligan on the presidency; and glory for the Boys in Blue…
# Debt forgiveness
Burton calls on banks to do more for struggling mortgage holders
The Minister for Social Protection said that banks and mortgage institutions were not doing enough for people in financial difficulty.
Column: Time to think outside the box on Irish banks
Amid calls for Irish investors overseas to direct their funds closer to home, Nick Leeson says the idea of reversing NAMA loans back to banks is well worth considering.
# Mortgage Debt
Writing off mortgage debt is an "emergency" need
Chorus of calls for Government to organise a mortgage debt relief scheme for worst-off householders builds to crescendo – and now a government junior minister is backing it…
# Mortgages
Couple's €200k mortgage write-off 'wasn't unusual' - insider
Irish mortgage lenders are secretly agreeing huge reductions when borrowers cannot repay, an industry source tells
Column: We must seize the day when Greece defaults, warns Nick Leeson
Economic crunch time for the Greeks will be a golden opportunity for Ireland, the former bond trader writes.
# G8
G8 talks to focus on support for Arab nations
The G8 are expected to combine their economic powers to back the grass-roots democracy movements that have swept the Arab world – as well as discussing Japan’s nuclear crisis and internet regulation.
# Robbie Fox
Former nightclub tycoon understands people being driven to suicide by debt
Robbie Fox was speaking after comments by the Master of the High Court yesterday in which he said banks’ aggressive actions in pursuing some loans had driven some borrowers to suicide.
# Courts
Master of the High Court calls for debt forgiveness
A senior administrator of the courts system complains that banks are too aggressive in pursuing their loans.
Poll: Should banks write off unpaid mortgage debt?
AIB has said debt forgiveness may be an option for troubled mortgage holders; but Bank of Ireland says it’s not. What do you think?