said on national radio on Wednesday that “this is where the tsunami begins.”
Personal insolvency practitioners, who help people resolve their unsustainable boom-time mortgage debts, said that there are thousands of people who need to be helped but that there are solutions to keep them in their homes. In many cases, it is the banks themselves throwing up obstacles to those solutions.
This is forcing debtors to engage with financial advisers to help them deal with their debts. Legislative changes in 2013 grants debtors time to put a personal insolvency arrangement in place.
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