Business Property & Mortgages

Tuesday 30 September 2014

Support group to help borrowers with insolvency deals

Published 11/09/2013 | 05:00

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THE group founded by lawyers and business people to help those facing repossession of their homes has promised to help distressed borrowers through the new insolvency process.

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New Beginning said it would not charge an up-front fee for providing the services of a personal insolvency practitioner (PIPs) to those seeking a deal through the new Insolvency Service.

Vincent P Martin, founder of New Beginning, called on all PIPs to avoid imposing up-front fees.

"New Beginning PIPs do not intend to charge up-front fees for the vast majority of cases," Mr Martin said.

"Only in exceptional circumstances where a deal is particularly complicated to negotiate, or where a client has an ability to pay, will New Beginning seek payment in advance.

"New Beginning believes it would be better if PIPs do not charge clients up-front as a matter of general policy on grounds that borrowers are already in difficulty," the barrister said.

Irish Independent

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