Debt Settlement And Mortgage Resolution Office Bill 2011
Public bill · Private Member · Introduced
Reforms how people in serious debt can deal with what they owe, by setting up simpler non-court routes to agree repayments, cut debts down, or get a fresh start when bankruptcy is not suitable. It also creates a process to help struggling homeowners negotiate mortgage changes on family homes, while setting rules for debt advisers and giving the State stronger, more structured tools to collect debts fairly. The aim is to protect basic living standards, reduce pressure on overburdened families, and replace prison for unpaid personal debt with civil enforcement methods.
Formal long title
Bill entitled an Act to reform the law on personal insolvency; to provide for a non-judicial debt settlement arrangement process concerning personal debt; to provide for a non-judicial mortgage resolution order concerning mortgages over family homes; to provide for a debt relief order for personal debt where a debt settlement arrangement or bankruptcy is not appropriate; to reform the law on the enforcement of personal debt, including individual enforcement mechanisms; to provide for the establishment of a debt enforcement office, which includes a debt settlement and mortgage resolution office; to provide for the licensing and regulation of personal insolvency trustees and debt collection undertakings; and to provide for related matters
Last updated 12 April 2018
- Michael McGrath Primary
- First StageDáil
- Second StageDáil
- Debt Settlement and Mortgage Resolution Office Bill 2011: Leave to Withdraw [Private Members] Dáil