Ireland’s cash-strapped borrowers face ban on vacations, limits on food spending

Financial Post ^ | 13 April 2013

[Lorianne]

Irish borrowers struggling to meet their loan repayments may be banned from taking vacations and face limits on how much they can spend on food under guidelines published by the country’s personal insolvency service.

Monthly individual living expenses for people seeking debt relief may be capped at 35.73 euros ($46.7) for clothing, 247.04 euros for food and 33.40 euros for personal-hygiene items, the Insolvency Service of Ireland said in Dublin today. Households in towns with “adequate public transport links” may not need a car, while private health insurance may also be banned, the ISI said.

The guidelines set a “standard of living that is based on needs, not wants, but it is more than survival and allows for meaningful participation in society,” the ISI said. “It should not be regarded as a standard of living for people in poverty.”

[Mr. K]

who goes on vacation when you are behind on loan payments in the first place?

[2banana]

Wow - actual CONSEQUENCES to borrowing money that you fail to repay.

Now if only we could apply the same standards to the bankers...

[Michael.SF.]

living expenses for people seeking debt relief may be capped at 35.73 euros ($46.7) for clothing, 247.04 euros for food

They are also capped at 1,750 euros a month for Guinness and Jamesons.

[RugerMini14]

Do the Irish lack the concept of bankruptcy?

[o-n-money]

They are also capped at 1,750 euros a month for Guinness and Jamesons.
+++++++++++++++++++++++++++++++++++++++
Let’s not get panicky-R.Kramden

[RugerMini14]

Wow - actual CONSEQUENCES to borrowing money that you fail to repay. Now if only we could apply the same standards to the bankers...

If you lend money to someone who can't/won't/doesn't have to pay it back, you're the idiot.

[Michael.SF.]

This may be of interest to you.

Similar mentality

[JRandomFreeper]

True. I've got family I will give a meal to, but would never consider loaning them money.

/johnny

[DLfromthedesert]

Michelle and Barry

[Cheapskate]

Yeah, but I wouldn't stand for some govt. paper pusher dictating this to me though.

I'd take one just to say"UP YOURS"!

[CommieCutter]

who goes on vacation when you are behind on loan payments in the first place?

I know!

[Kartographer]

Preppers’ PING!

[TArcher]

[who goes on vacation when you are behind on loan payments in the first place?]

SOP for Generation X-Box.

Then that pesky sub-prime bubble went poof and derailed the refied gravy train.

[2ndDivisionVet]

Back to the "good old days" it seems. Ping me when indentured servitude and slavery are re-instituted.

[Marcella]

If you own a house and have house payments and lose your job, (look at their unemployment rate), you can't make the payments and feed the family - in fact, it's hard to feed the family without a job. So, they are forced into their form of bankruptcy.

I don't think all these people just charged credit cards until they couldn't make payments on their houses and the cards. Those on here dumping on all these people should consider what would happen if their job disappeared.

Also, when someone says, “I don't mean “x”.” They usually mean “x”.

So, when the man said, “It should not be regarded as a standard of living for people in poverty” - he meant it is regarded as a standard of living for people in poverty.

[Marcella]

I am old enough to remember when my mom talked about the “poor farm” which actually was a farm where poor people would go and live and it was at “Big Sandy” which was (and I supposed still is) a small town or community not far away from where we lived in east Texas.

Jokes were made about the poor farm - not about the people being there but jokes about not wanting to have to go to the poor farm.

[bgill]

Now if only we could apply the same standards to the bankers...

Congress and hussein should be at the top of the list.

[caww]

...”Those on here dumping on all these people should consider what would happen if their job disappeared”....

I know what you have to do when you lose your job and you sure as heck don't plan a vacation! You hunker down bigtime...you pay your mortgage or rent first...upkeep on your car second...and then you eat.

Further you take whatever job you find first to keep the cash flow going, however meager...I slung Hoagies at a Sub-Way...waitressed at a Sports Bar...and hosted at two Golf Clubs....and worked one day a week slinging hotdogs...all of these at once to meet my obligations. My head spun wondering which job I was suppose to be at!

Yes it was hard...I was a Regional Sales and Marketing Rep. Prior...so adjusting was difficult...but I liked having a pay check.

I took the criticism as well from former clients and people who knew me as a Professional in my community. As well as family members.....But my bills were paid every month on time.

I know what it is to eat crackers and peanut butter for a week...and run coffee thru the filter twice....to go nowhere except work and back to conserve gas...You learn to love rice and gravy.

I say this because you can do it...I'm just stubborn enough to not let my circumstances beat me up.

One other thing...you Pray alot!

[bgill]

That’s $411 US dollars which is about what I budget to spend on food and incidentals each month. Sure, it’s not the high life but it’s not poverty.