Banks to get tough on home owners over debt

A woman said she “panicked” and hid a bank’s repossession letter from her husband, as experts warned that families in mortgage arrears they can no longer ignore the problems as this will be “the year of the repossessions”.

The Co Clare mother of five was speaking after her case was one of 67 repossession applications that came before Clare county registrar, Pat Wallace yesterday, requiring a special sitting of his court.

Nine financial institutions are involved in the 67 applications and the woman, who did not wish to be named, recalled receiving the letter from AIB last November.