Friday 9 December 2016

Carol Hunt: Banks legally hold all the aces in two-party contract

Carol Hunt hopes judges will be allowed a say in how the banks behave when pursuing debtors

Published 05/02/2012 | 05:00

LAST week in this newspaper, Wicklow TD Stephen Donnelly made the comment that dealing with your bank when you went into arrears was a bit like taking a knife to a gunfight.

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Even with the new Personal Insolvency Bill, the banks will still hold all the cards -- and either they will deal you a passable hand or they won't. Evidence to date shows some of them to be a fairly intractable lot, despite pleas from various parties for them to relent and show a bit of realism -- if not conscience.

Recently I got the barest taste of what it must feel like to negotiate with "the bank". First I must confess that, chez Hunt-Quinn, delivering the mortgage payments are the responsibility of the Quinn side of the house.

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