Ahern rules out ‘NAMA for the people’

LAWS aimed at writing off debt for individuals and families – or a “NAMA for the people” – have been ruled out by the Justice Minister Dermot Ahern.

As new figures showed a dramatic rise in court judgments relating to debt, Mr Ahern ruled out a debt forgiveness scheme for consumers who owe money to banks.

He said debt was something owed to somebody and “the Government can’t just pass laws saying the debt isn’t there anymore.”