Friday 15 December 2017

Homeowners must act fast or they'll be washed away

With banks eager to see what they can get away with, it's up to those in debt to find a solution, says James Fitzsimons

James Fitzsimons

THE future of our banks is intertwined with our own, but while they wear the Government like a glove, distressed borrowers and those who are sitting on the fence will be abandoned to the courts, where they can fight for their homes and what's left of their businesses.

ACC has folded, Danske Bank Ireland (once National Irish) is to withdraw from personal banking here. The rest are broke and need a miracle to save them. They can't help because they don't have the money, and they'll burn distressed borrowers to survive.

If you want to leave your financial problems behind, start paddling your own canoe. No one is coming to the rescue. If you sit back, you'll be washed away. If you have something worth fighting for, there are financial solutions that don't involve shooting the dog or drowning the cat. Banks are testing the water to see what they can get away with, so it's up to you to find a solution.

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