Saturday 17 March 2018

Personal insolvency guidelines "indicative" - Taoiseach

Taoiseach Enda Kenny
Taoiseach Enda Kenny

Fiach Kelly Political Correspondent

THE new personal insolvency guidelines are “indicative” only and will be different for every person who looks for a debt deal, Taoiseach Enda Kenny has said.

Mr Kenny’s comments come after the Irish Independent revealed the guidelines will only allow a family of four spend €20 a day on food and people living in large towns or cities could have to give up their cars.

The strict restrictions are all contained within “reasonable living guidelines” to be issue by the Personal Insolvency Service as it prepares to offer new deals on debt.

But speaking at the annual 1916 rising commemoration in Dublin, Mr Kenny said “people have become very fixed as if these things are binding”.

“Everyone who sits down with a lending institution or in this case with a practitioner goes through what their income is and what their expenditure is and every individual circumstance is different depending on the nature of those circumstances, “Mr Kenny said.

“People have become very fixed as if these things are binding. They are different in every single circumstance and they are indicative only.

“The guidelines that you refer to are guidelines, they are indicative in nature only and are not binding at the end of the day in respect of couples that find themselves in distress.”

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