Comment: Stressed borrowers must be allowed to live normally

If the banks set a very low standard of what is a decent standard of living, they will exclude large numbers of people from participation in the economy, writes DJ O'Donovan.

10th March, 2013
By DJ O'Donovan

The issue of what is a "reasonable standard of living and reasonable living expenses" has the potential to become a very divisive issue when the new personal insolvency procedures come into practice.

We have seen in the past two years since the introduction of the Standard Financial Statement (SFS), which lenders are using to assess debt forbearance cases, that banks are scrutinising and challenging every aspect of a borrower's household expenditure, even down to what...

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