Debt Consolidation Ireland: Debt Assist. Molloy Pension like winning Lotto

People around the country who are having trouble with debt collectors because they cant pay their loans and are being threatened with eviction from their house, will find it incredile the kind of golden handshake given to Former Fas Director Roddy Molloy at the height of the recession. More Public Money flowing into the pay cheque of a man who was essentially let go for not doing his job properly. Today he resigned as chairman of the IPA

The Taoiseach, Brian Cowen, has been responding to criticism of the controversial FÁS pension arrangements put in place for Mr Molloy. Mr Cowen said that the severance deal was in accordance with public sector norms and was within the Department of Finance's guidelines. He said in the light of recent developments, the Tánaiste, Mary Coughlan, was now seeking legal advice as to whether the terms of the agreement put in place for Mr Molloy should be re-visited. The Public Accounts Committee heard yesterday that Mr Molloy received a pension increase worth up to €1m, as well as other payments.

A spokesman for the Tánaiste said the review had been initiated following information that overspending at FÁS was deliberately withheld by management from the board of directors at the State training agency. The Committee was told Mr Molloy got an additional sum of between €80,000 and €90,000 in his pension package, over and above what he was entitled to. The Secretary General of the Department of Trade & Enterprise, Sean Gorman, told the Committee that Mr Molloy's pension had been increased to give him credit for another four-and-a-half-years' service, despite the fact that he resigned.

This news is a slap in the face to anyone who has been hit hard by the recession, people who have lost their jobs or who are trying to pay off a loan with an unrealistic payment structure, who have credit card arrers they cant pay and yet more and more interest is added. At Debt Assist we can help by cutting those repayments and freezing interest with your creditors. Contact us on 1890 87 67 27 or look us up online at www.debtassist.ie