Submissions by topics "Should creditors in Ireland be permitted to impose cost-recouping charges on consumers in default? If yes then what should the cap on such charges be?"
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No, costs should be borne at the expense of the credit provider. The court can decide to award costs and interest on judgment debts, should the credit provider wish to pursue this course of action...
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Yes. If a customer has defaulted on their repayments and a financial services provider needs to enforce its rights e.g., issue legal proceedings, it should be permitted that the provider can recoup...
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Imposing fees on someone in default can further impact their ability to repay. Charges should be minimal to encourage getting the consumer back on track while limiting the cost to the provider. ...
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