Category Archives: MABS

MABS will be Approved Intermediary Service for Debt Relief Notices

Approved Intermediary Service is established in MABS to provide Debt Relief Notices under the Personal Insolvency Service

 

A Debt Relief Notice is  designed for people who have very low disposable income and little assets, and will allow for the write-off of qualifying debt up to €20,000, subject to a three-year supervision period.

To obtain a Debt Relief Notice, an application must be made through an Approved Intermediary. MABS will be providing an Approved Intermediary service to process applications for Debt Relief Notices

The Citizens Information Board together with MABS,  is working closely with the Insolvency Service to put the Approved Intermediary Service in place. Sixteen temporary money advice staff have been recruited to facilitate the rollout of the service within MABS.

A regionally based Approved Intermediary Service Transition Unit (AISTU) has been established and all Money Advice Co-Ordinators and one Money Advisor in each of the 51 local MABS companies around the country are being trained as Approved Intermediaries to ensure that the service will be available nationwide from the outset.

Mortgage Information and Advice Service

A new government  mortgage advisory service, which is to be  funded by the banks, is expected to begin work by the end of the summer. The Citizens Information Board will have the  overall co-ordinating role  of the   new advice service .

MABS  ( Money Advice and Budgetary Service ) will not have a role in the new mortgage advice service – even though they have years of experience in  providing  support for people in debts.

It is going to be confusing for people with mortgage problems – MABS is well known as the place to go if you have debt problems.

At the moment people in debt are advised by th egovernamnt and the banks to go to MABS

The MABS helpline  is 0761 07 2000 and is open from 9am to 8pm, Monday to Friday. MABS also operates a nationwide network of centres, staffed by specialist money advisers, as well as an email service helpline@mabs.ie.

 

You can also contact your local Citizens Information Centre for face-to face information and advice, phone the Citizens Information Phone Service on 0761 07 4000, Monday to Friday, 9am to 9pm,

MABS could run the Insolvency Service

Money Advice and Budgeting Service (MABS)  could end up running the new State-run insolvency service .

The insolvency service is to be set up under the Personal Insolvency Bill.
It will be responsible for  helping people to manage personal debt through budgeting advice and new arrangements with lenders.

Labour TD Anne Ferris said she would seek her  support for the nomination of Mabs, when insolvency practitioners address the committee next week.

Among the groups invited to address the committee next week are Mabs, Free Legal Advice Centres (Flac) and advocacy group New Beginning.

MABS has over 60 offices across the State and Ms Ferris said they seemed the “obvious choice to be the designated intermediary under the insolvency Bill”.

The Citizens Information Board currently has statutory responsibility for Mabs but Ms Ferris’s proposal would see the agency attain statutory responsibility in its own right.