A Kerry-based Personal Insolvency Practitioner has welcomed the intervention of the Master of the High Court in the mortgage arrears crisis.
Edmund Honohan hit out at Taoiseach Leo Varadkar for advice he gave to those in arrears saying instead he should be encouraging those homeowners to go to their local PIP.
Brian Leslie, a PIP based in Killarney, says 10% of all family homes in this country are in significant arrears.
Mr Leslie says we have to decide if those who can afford their mortgage subsidise those who can’t or allow the bank to perform their commercial function and deal with the bad debts.
He says PIPs are getting significant deals every week but are not getting enough referrals: