Gambling debt and mortgages

The first rule — keep talking to your lender

Lenders have much more flexibility than most borrowers expect, but only with engagement. Cooperating with your lender keeps you inside the CCMA framework and unlocks options that disappear if you go silent.

The Code of Conduct on Mortgage Arrears (CCMA)

The CCMA is a statutory Central Bank code that governs how regulated lenders deal with borrowers in mortgage arrears or pre-arrears on their primary residence. It requires lenders to follow MARP — a four-step process of communication, financial information, assessment and resolution — before any repossession action.

MARP and what to expect

• Standard Financial Statement — a detailed picture of income, outgoings, assets and debts.
• Assessment of alternative repayment arrangements (ARAs) such as interest-only, term extension, arrears capitalisation, split mortgage.
• Written outcome with reasons.
• Right of appeal to the lender's Appeals Board and onward to the Financial Services and Pensions Ombudsman.

Abhaile — free expert help

Abhaile is the State-funded scheme that gives borrowers in home-mortgage arrears free access to a Personal Insolvency Practitioner, an accountant and, where needed, a barrister. It is delivered through MABS. For most people in serious gambling-related mortgage arrears, this is the most important free resource in the country.

Personal Insolvency Arrangement (PIA)

Where informal restructuring is not enough, a PIA combines treatment of secured and unsecured debt in a single arrangement designed, where reasonable, to keep you in your family home. The court can in certain circumstances approve a PIA even where a secured lender has rejected it.

PIAs typically run for five to six years. They are administered by a Personal Insolvency Practitioner regulated by the ISI.

Protecting the home while in active recovery

Keeping the home is not only about negotiation. It is also about ensuring the gambling has actually stopped, because a restructuring is not durable on top of continued losses. Combine the money-side process with treatment and blocking tools.

This page is information only and is not regulated financial, legal or tax advice. For advice on your own situation, contact MABS or a Personal Insolvency Practitioner regulated by the Insolvency Service of Ireland.