Personal Insolvency (Amendment) Bill 2020 [Seanad]: Second Stage
Dail Éireann — 2021-05-13
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Patricia Ryan (SF), Kildare South

I welcome the opportunity to speak on this Bill. It is a timely proposal, given the times were are in when so many have been affected financially by the pandemic. People will tend to borrow more when times are good and they feel able to pay back a loan or meet a financial obligation. They are, however, at the mercy of developments in the wider economy. With employment becoming more and more precarious, it will be interesting to see how this legislation will affect things. Many workers have been badly affected by the pandemic and we in Sinn Féin strongly oppose the reduction of the pandemic unemployment payment. It will place many households in severe financial difficulty through no fault of their own. We need a commitment from the Government that the pandemic unemployment payment will continue for as long as it is needed to support working families.
I wish to address the issue of mortgage sales. It is wrong that mortgages are being sold to foreign vulture funds and that mortgage holders are being subjected to repeated letters and phone calls from these vultures who pass loans around with no regard for the families involved. These are real families with real children and there needs to be better regulation to avoid pushing families over the edge. I am aware of people who come to my office where they are mentally completely stressed. The previous speaker referred to older people. Our older people are in severe financial difficulty and this Government needs to do much more to help them.

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Retrieved: 2026-08-14T04:49:16+00:00
Sitting date: 2021-05-13