Access Denied: How the banks are blocking debt deals

Access Denied: How the banks are blocking debt deals

As banks and other lenders come under increasing criticism for their intransigence in dealing with struggling debtors, a meeting has been scheduled for next month with the Insolvency Service of Ireland in an attempt to resolve the situation

With hundreds of debt deals being rejected by creditors, thousands of debtors still struggling with problem debt, and lenders showing little willingness to engage, the state’s insolvency agency is running out of patience.

Lorcan O’Connor, director of the Insolvency Service of Ireland (ISI), recently publicly criticised lenders for their reluctance to engage constructively with the personal insolvency process.

Early next month, banks and other financial institutions will meet with O’Connor to discuss the...

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