€170k debt forgiveness ‘watershed’

A mortgage debt forgiveness group has described a bank settlement on a nurse’s €170,000 debt as “a watershed moment” for those facing life-long debt.

Speaking to the Irish Examiner after 35-year-old Laura White agreed to repay Bank of Ireland €18,000 of the debt over the next six years — meaning €152,000 has been written off — New Beginning spokesman David Hall said the move offers hope to thousands of people in similar situations.

Mr Hall said the deal should be a “reality check” to banks that they cannot keep “torturing” people who genuinely cannot pay.