was paid more than €330,000 under a scheme to assist distressed borrowers, but did not directly set up any personal insolvency arrangements to restructure debts, the report found.
Personal Insolvency Practitioners provide financial advice with the aim of finding a solution to borrowers’ debts. These can include a bankruptcy application, a referral to budgeting service Mabs, an informal debt solution, or a Personal Insolvency Arrangement to restructure the debts. The firm redeemed 661 vouchers under the Abhaile scheme, and between October 2016 and March 2018 was paid in excess of €330,500 by the State. The report found 30 files did not meet the scheme’s terms and the ISI was recouping payments in those cases.
The policy of referring people to another provider to set up statutory debt arrangements “requires already vulnerable debtors to engage with new PIPs”, it said.
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davidhall75 Scumbag Ross Maguire & his company New Beginning were associated with Abhaile though he always criticised mortgage holders in the media!