Homeowners in mortgage arrears or insolvent can now access independent expert financial and legal advice.

The scheme, funded by the Government, will involve a number of agencies including the Money Advice and Budgeting Service (MABS), the Legal Aid Board, the Insolvency Service and the Citizens’ Information Board. The Scheme will be coordinated by the Department of Justice and Equality and the Department of Social Protection.

The Minister for Justice and Equality, Frances Fitzgerald T.D., said: "Many organisations working to help people in debt have underlined the stress and isolation experienced by people who are struggling to get out of debt, and who are at risk of losing their homes due to mortgage arrears. Expert independent advice can break these problems down to manageable solutions, and help people return to solvency, often keeping them in their homes.

-- Advertisement --

"I am very pleased to announce this Scheme, which I believe will offer very important support and hope to people in genuine financial distress and anxiety, who can't afford the help they need. I would strongly encourage anyone worried about mortgage arrears on their home to contact MABS, who are the gateway to this scheme, and who can arrange for advice and representation from a Personal Insolvency Practitioner, a specialised MABS adviser, or a solicitor, as needed."

(CD/MH)