Michael Lowry says the Personal Insolvency Bill does not go far enough to help people in financial difficulty.
The Independent T.D. says the current Bill will only help a fraction of the estimated 80,000 mortgage holders who are more than 3 months in arrears.
Allowing a veto for creditors is a crucial flaw in the Bill, according to Deputy Lowry, because anyone who is owed more than 65% of the debts can refuse a write-off.
This leaves private citizens at the mercy of banks and other huge lending institutions, with no appeal or mediation mechanism in the current Bill.