COVID-19 - MABS Related Live Feed

Covid19 Blog Header

   

MABS is open and money advisers are available to take your money advice and debt queries by phone, email and now by Live Chat through Facebook Messenger.

You can contact your local MABS office or call the MABS Helpline on 0761 07 2000, Monday to Friday, from 9am to 8pm.


Updated: 08.30 | 3rd June

Back to School - Too Early to Plan?

Now that summer is here and the kids are off, it is a good time to plan for the new school year in September. Liz is back to help you plan and budget for the coming months to avoid panic in August.

You can read the full blog here.

Updated: 11.30 | 2nd June

Government approves details of Restart Grant for Small Businesses

The Government recently announced a new Restart Grant for small businesses.

The new €250m Restart Grant provides direct grant aid to micro and small businesses to help them with the costs associated with reopening and re-employing workers following COVID-19 closures.

The grant is available to businesses with a turnover of less than €5m employing up to 50 people, which were closed or impacted by at least a 25% projected reduction in turnover to the end of June 2020.

The grants will be equivalent to the rates bill of the business in 2019, or a minimum grant of €2,000, with a maximum grant of €10,000. The application form is available online from all local authority websites.

You can read the full announcement herehere.

And you can find the details on how to applyhere.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Continue reading to see our summary newsfeed of updates as they happen. Click on any of the links below if you would like to skip to and read the relevant update in more detail.


Updated: 8.30 | 27th May

In MABS we receive a lot of great questions. 'MABS Investigates' will work to provide clarity to these questions from an independent and neutral point of view. This week's question is to do with Current account charges and how they compare across different financial institutions.

You can read the full blog here.

Updated: 8.30 | 20th May

p>For many of us, working from home is very different and something new. We are presented with a new way of working and new challenges. Once we get over the technical hurdles and settle in, that’s when we might notice changes to our spending. Some bills may increase and others reduce.

We have put together things for you to consider while working at home that we hope you will find useful to help you with your budgeting.

You can read the full blog here.



Updated: 8.30 | 13th May

In MABS we receive a lot of great questions. Questions that we know many people want to ask, but don't know who to ask or where to start. 'MABS Investigates' will seek out to provide clarity to these questions from an independent and neutral point of view. This week's question is to do with Mortgage Protection Insurance and whether you should continue to pay it if you apply for a mortgage payment break. Got a question? Get in touch and we'll investigate.

MABS advises anyone who either has a payment break in place or is considering one, to make an informed decision and to contact us, we have advisers are available by phone and email and through our live chat. Contact details are available here.

You can read the full blog here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Updated: 9.30 | 12th May

The Taoiseach, Leo Varadkar met with the Chief Executives of the five Irish major retail banks on Monday evening 11th May.

Business and mortgage customers will now have the option of having the term of their loan extended so they do not face a rise in monthly repayments when they resume paying. Crucially, it will not affect customers’ credit rating, nor increase the burden on non-performing loans on the banks.

MABS advises anyone who either has a payment break in place or is considering one, to make an informed decision and to contact us, we have advisers are available by phone and email and through our live chat. Contact details are available here.

You can read the full statement here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Updated: 14.30 | 6th May

The Banking & Payments Federation Ireland (BPFI) have announced a further 3-month extension on mortgage payment breaks. This brings the payment break to 6 months. If you are considering a payment break, read this FAQ to fully understand what it means for you and your finances in the long-term.

"The advice of MABS is to engage and pay whatever you can. Apply for a payment break as a last resort, and to contact MABS for support in assessing your situation before applying for a break. This is not free money, and will have to be paid in the future, which may incur an extra cost" - Michelle O'Hara, Regional Manager for South Leinster MABS

You can read the full blog here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Updated 17.45 | 30th April

Banking & Payments Federation Ireland (BPFI) members including the five main retail banks, together with non-bank lenders and specialist lenders, and credit servicing firms, have today confirmed that a further three-month extension to the current payment break will be made available to customers that continue to be directly impacted by the fallout from the Covid-19 pandemic.

In light of the prolonged and deepening crisis, the extension will allow impacted personal and business customers a payment break of up to six months in total. The same extension arrangement will also be available to Covid-19 impacted customers who may yet apply for a payment break.

You can read the full update here  

And you can check out our Payment Break FAQ here.

This is a developing story - follow @MABSinfo on Twitter and Facebook for further updates.



Updated 11.00 | 30th April

Some people are getting paid their social welfare payments every two weeks as a result of COVID-19 (coronavirus) supports measures introduced by the Government. Are you one of these people?

Carol from North Dublin MABS talks through tips on how to manage so that your money stretches.

You can read the full blog here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 9.00 | 29th April 2020

Have you been financially affected by COVID-19? Here, Margaret from North Dublin MABS is back and discusses how to deal with your creditors, with tips and tools to help.

You can read the full blog here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Updated 9.00 | 24th April 2020

The HIA, working with the Department of Health, private health insurers, the HSE and the Central Bank of Ireland have announced a number of supports and measures for health insurance customers. It is expected that these supports will be in the form of a premium rebate. Customers are encouraged to get in touch with their insurance provider to find out the measures that will be available to them.

Click here to learn more.


Updated 9.00 | 22nd April 2020

p>During these challenging times, we want to reassure everyone that we are here, we are working, and while we might not be able to meet face-to-face, we’ll always have your back.

You can read the full blog here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 15.00 | 20th April 2020

MABS is aware that there may be situations where a parent may have lost their job during these challenging times. Because of this they can no longer pay maintenance, affecting both parents and the children involved. The Department of Employment Affairs and Social Protection (DEASP) has advised parents receiving One-Parent Family payments to contact their local Intreo Centre. They have also asked those who are receiving One-Parent Family payments to have a letter stating that they are no longer receiving the maintenance payment from the other parent.

The Department will then revise these payments on that basis for 12 weeks. After 12 weeks, the parents’ means may be reassessed following a review.

As the family courts are not hearing maintenance cases during this time, the situation is being carefully and continuously monitored to ensure that lone parents do not face any further difficulties at this time.

If you have been affected by a loss of income due to job loss, maintenance or reduced hours, MABS can help you to manage your money and talk you through your options.

You can read the full announcement here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 15.30 | 20th April 2020

On the 8th of April, Minister for Business, Enterprise and Innovation, Heather Humphreys TD announced a range of measures to support small and medium enterprises (SME) during the pandemic. These supports extend to all SMEs and include Sole Traders, Partnerships and small limited companies.

We have gathered together all of these supports together so you can identify which supports you can qualify for and support your business during these challenging times.

You can read the full details on our blog here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 15.30 | 17th April 2020

Following the recent extension of government measures regarding COVID-19, the Commission for Regulation of Utilities (CRU), along with Gas and Electricity Suppliers, has extended the moratorium on domestic electricity and gas disconnections to June 16.

You can read the new announcement here

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 9.30 | 16th April 2020

The Government has launched a Together Campaign and portal on their website. The portal provides advice and tips on how to look after yourself and others during this challenging time. Here are the different categories.

government together campaign portal image

You can access the portal here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 14.20 | 15th April 2020

The Minister for Communications, Climate Action and Environment Richard Bruton T.D. has announced that all major telecoms providers have committed to a number of measures to help people stay in touch and work from home during COVID-19.

All major providers have signed up, including BT Ireland, eir, Pure Telecom, Sky Ireland, Tesco Mobile Ireland, Three Ireland, Virgin Media Ireland and Vodafone.

“Now more than ever, people are relying on online services to stay in touch with family, friends and work colleagues. These commitments will make sure that all major providers are responding to this increased reliance, providing extra capacity where needed and ensuring people have the services they need to stay connected. These are common commitments and some operators may choose to offer extra services to their customers."

You can read the full statement here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 11.50 | 15th April 2020

Following on from Managing on a Reduced Income, Liz shows you how to maximise your income.

Read More 

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 12.13 | 14th April 2020

The Minister for Housing, Planning and Local Government, Mr. Eoghan Murphy TD confirmed today that forbearance arrangements have been put in place for local authority mortgage products.

“Measures to support local authority home loan borrowers have now been agreed. These measures will ensure that a mortgage payment break of up to three months will be made available to local authority borrowers who are in need of it”.

The approach being rolled out in the local authority sector will ensure that no additional costs to the original home loan balance will arise for the borrower who avails of these measures, as borrowers are not charged interest for the period of the break.

Work has focused on ensuring a simplified application process that can be accessed and processed quickly so that borrowers in distress can access this payment break quickly. This break is available to those who have already faced mortgage difficulties due to the COVID-19 emergency and those who may encounter difficulties in the near future.

You can read the full statement here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 9.50 | 8th April 2020

Have you been financially affected by COVID-19?

Margaret from MABS discusses how to deal with your creditors.

Read More 

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 9.30 | 8th April 2020

The Banking & Payments Federation Ireland has published a special information guide "Safeguarding Your Money" providing practical advice for cocooning customers on the various ways in which they can manage their day-to-day banking and finances in a safe way while they stay at home.

In addition each of the five retail banks, AIB, Bank of Ireland, KBC, permanent tsb and Ulster Bank now have dedicated phonelines to assist cocooning customers during the COVID-19 crisis.

You can read the full update here  

And you can download the guide here (downloads automatically)

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated 12:00 | 1st April 2020

Have you been financially affected by COVID-19?

Here, Liz from MABS discusses how to manage with less money and what you can do to plan.

To read the full blog click here.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Updated 17.50 | 30th March 2020

The Central Bank of Ireland (CBoI) has confirmed that there will be no impact on a consumer’s credit rating if they take part in the mortgage repayments breaks. Information on measures introduced by the main banks and credit servicing funds, or sometimes called “vulture-funds” was announced by the Banking and Payments Federation of Ireland (BPFI) on the 19th March 2020.

Brian Hayes, CEO, BPFI has welcomed this development, and said that "this confirmation provides borrowers with reassurance and confidence that they can avail of the payment break, and do not have the worry about it impacting their credit record on the Central Credit Register." Read the full statement here.

It is important to note that a borrower who takes an agreed break, or “holiday” from paying their mortgage will appear on the credit register as no “missed payments”. However, this is only the case if the borrower has engaged with their lender in good time and agreed on the break.

Borrowers who are at risk of falling behind on their mortgage repayments should speak with their lender without delay. MABS advisers are available to negotiate on your behalf if you cannot talk with your lender directly. Contact details of your local office can be found here. The MABS national helpline is also available on 0761 07 2000, Monday to Friday, 9 am to 8 pm.

The full CBoI update is available here.

Read our Mortgage Payment Suports FAQs for more information on what taking a mortgage repayment holiday might mean for you.

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.



Back to top of page

Posted: 11:45 | 27th March 2020

All applications for protective certificates (those already lodged and those to be lodged), will be deferred unless the Personal Insolvency Practitioner (PIP) notifies the relevant Court office by email advising that the application is urgent.

Similarly, applications to approve Debt Settlement Arrangements/ Personal Insolvency Arrangements which have passed at creditors meetings, and applications to approve Debt Relief Notices shall be deferred unless the PIP or Approved Intermediary (AI) as appropriate emails the relevant Court office advising that the application is urgent.

If you have a PC, DSA, DRN or PIA, please contact your PIP or AI if you have queries on this notice.

Source: Click here to read the full post

Follow @MABSinfo on Twitter and Facebook and Instagram for further updates.


Updated: 16:59 | 23rd March

We all know the importance of social distancing in our attempt as a nation to reduce the effect of COVID-19 (coronavirus). Social distancing is aimed at protecting the physical health of our loved ones and ourselves, along with other measures such as proper hand hygiene and coughing best practice.

However, what about our mental health? These are strange and worrying times. We must allow ourselves to adjust and look after our mental health. The HSE has a great resource titled “Minding your mental health during the coronavirus outbreak.” It refers to some of the signs that you might be suffering from increased anxiety and the actions you can take to reduce the effects.

You can read the full document here and remember, MABS advisers are available to take your money advice queries over phone or email. Local office contact details can be found here or call the MABS national helpline 0761 07 2000 is open Monday to Friday, 9 am to 8 pm.

Source: HSE.ie (23rd March 2020)



Back to top of page


Back to top of page