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What is the CCMA & MARP?

What is the CCMA & MARP?

  • MARP stands for the Mortgage Arrears Resolution Process. This is the process that banks must follow if a home-owner (mortgaged family home) falls into debt or defaults on their loan. The MARP is set out in the Codes of Conduct on Mortgage Arrears 2011/2013 by the Central Bank

  • Unfortunately most homeowners are not aware of the responsibilities of their bank regarding arrears resolution nor are they aware of their rights. For example, although banks may during the MARP process try to set time frames in which you have to carry out certain actions, those timeframes must be reasonable. In other words, if you have to get information from an accountant, or other difficult information, your bank must take this into account.

  • Also, the bank is significantly restricted in how they communicate with you and you have a right to negotiate the medium of communication. For instance you may ask only to receive written correspondence and not telephone calls.

  • Equally, it is important where possible to always communicate in writing. It is our experience that in the courts banks often take advantage of the fact the homeowner cannot prove they were cooperative by producing written correspondence. Insist on written correspondence rather than phone calls.

  • Knowing your rights is a very important step to defending your home and business when challenged by the banks. The Land League provides workshops to enable people to learn their rights in a warm and understanding environment. Call the Land league dedicated number for further details (0894740811).

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