Debt sentences - Lenders have questions to answer too

THE grim prospect of another 120,000 workers losing their jobs led to the recognition, in the framework document for national recovery, that people will need help in meeting their obligations to lending agencies.

Many families, who gladly met all of their commitments while their jobs were secure, may need help to servicing mortgages so they can stay in their homes.

The Government proposes a statutory code of practice for troubled mortgage holders, and will also review its mortgage interest scheme. The initiative, administered by the Department of Social and Family Affairs and the HSE, will provide short-term support for mortgage holders with interest payments.