Monday 18 November 2019

CorkHi12°| Lo

Cork Independent


Debtors urged to plan in writing

Thursday, 28th March, 2013 2:00am

Following the report last week of a Cork doctor facing hounding from the banks on loans taken out in college, the Cork Independent was contacted by one financial advisor offering services to the doctor in distress.

"I just felt that no-one should be facing the situation she was facing on her own," said Rory McGonnell of Bright Day Finance in Dublin.

"Without going into details of her case, I advised her to make out detailed income and expenditure documents that can be sent to the banks outlining how much she is able to pay."

Mr McGonnell urged people facing into debt problems to put everything in writing, as too often, people can just engage in verbal contract that can be broken in the end.

"Put everything down on paper and send it to your creditors, and they will hopefully see how much is available to be paid. We can also take on the debts and manage it into one payment if people want."

The Irish Medical Organisation could not comment on specific cases but stressed that it was "deeply concerned at the significant levels of debt which doctors can accrue as a result of funding undergraduate medical education and postgraduate training."

"The IMO believes Government has failed on its election promises to students causing unsustainable debt which is carried far into their careers," said a spokesperson for the IMO.

"The IMO is meeting with IMO student members and NCHDs to look at the difficulties pertaining to them and to NCHDs who are carrying the burden of debt long into their careers."

ePaper Service

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8
Desktop, Tablet & Smartphone friendly
Cookies on Cork Independent website
We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Cork Independent website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
How does Cork Independent use cookies?
Cookies enable us to identify your device, or you when you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. We use cookies to enhance the functionality of the website by storing your preferences, for example. We also use cookies to help us to improve the performance of our website to provide you with a better user experience.
We don't sell the information collected by cookies, nor do we disclose the information to third parties, except where required by law (for example to government bodies and law enforcement agencies).
Hide Message