Madam, – While I echo many of the sentiments expressed by Colm Whelan (October 30th), I think the distinction has to be made between those people who genuinely are in difficulty, who are taking responsibility for their actions, and those who think they can (and appear on the face of it to be able to) get away with not paying their portion.
I, like him, worked full-time, paid my taxes, bought a house, car etc, when money from the banks was readily available.
I was made redundant in February 2010, and haven’t managed to secure suitable employment since. I am now relying on €196 per week jobseeker’s allowance which doesn’t even come near to covering what I was paying out when working full-time.
Some creditors have been sympathetic to my plight, but others (including one major Irish bank) hasn’t, and I’m now being pursued via the civil court to recoup an amount of money that, in the present circumstances would take me years to pay off on my current income. I cannot give them what I don’t have.
I have cut my cloth, I shop carefully, I no longer have private health insurance, I no longer have a car that is nearly new but now very old. I also continue to rely on support from friends, family and charitable organisations for financial aid.
What needs to happen is that the lending institutions need to be more sympathetic to those in genuine need. Meanwhile, those who have millions and who owe millions should be made pay back what they owe. They should not be allowed get away with not paying anything back (isn’t that what got us into the mess in the first place?). The banks and the Government need to face up to their collective responsibility.
I do realise that what I bought on credit needs to be paid back – never in a million years did I expect to be made redundant, but it has happened and the onus is on me to pay back what I owe. I don’t intend to shirk my responsibility. However long it takes to clear my debts, I will do it – I don’t expect to be “let off”.
My situation is small fry compared to the millions of euro other people and institutions owe – including the ones who got us into this dire financial crisis. Surely this is where a little bit of perspective is required. – Yours, etc,
Madam, – Colm Whelan declares he is “amazed” that those individuals who default on their debts are not forced to “bear personal responsibility” for those debts (October 30th). He also asks why “the ordinary decent taxpayer” should be asked “to underwrite their losses”.
He makes no mention of the fact that the banks have defaulted on their debts. Neither does he allude to the fact that “the ordinary decent taxpayers” have been told, not asked, by the Government “to underwrite their losses” to the extent of €50 billion.
Why are the rules of “personal responsibility” applied to the ordinary individual but not to the more powerful banks? – Yours, etc,