Phoenix Project Ireland is a registered charity that provides financial, legal, and emotional support to distressed borrowers. A founding member of the charity, solicitor John O’Donoghue, volunteers several hours each week to help individuals and families who are facing the prospect of losing their homes

Rising up

Speaking to Gazette editor Mark McDermott, O’Donoghue shares how he retrained as a solicitor after a background in accountancy – and the road that let him to Phoenix Project Ireland. “Back in 2008, I saw so many people who were abjectly lost, without any support, due to the financial crisis. The banks had foreclosed on them, accountants and solicitors were nearly as badly off as the ordinary guy in the street, and it came to my attention that a number of people had committed suicide due to financial pressures,” he explains. Knowing people badly affected by the mortgage crisis, and seeing correspondence from banks, convinced O’Donoghue, Phoenix Project chair John McGrath, and CEO Willie Prior, to take action.

Keeping families in their homes

People who want to engage with their lender, but lack the skill-set to do so, need informed advice and assistance, he argues. “The Phoenix Project is a bulwark between the banks and our clients, in the hope that we can bring some sense to these situations,” says O’Donoghue. “We are chiefly concerned with saving family homes. All the other commercial arrangements can be dealt with by way of insolvency, bankruptcy or whatever. But saving the family home is what matters most to us, especially where there are children involved.”

In his interview, O’Donoghue discusses the day-to-day work of Phoenix Project Ireland, the practical issues facing families in arrears, and long-term solutions to the problem of mortgage arrears.

• Read the full article in the July 2017 Gazette

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