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For the price of one cup of coffee each week you can help keep paywalls away.
The new procedures reduce the term of bankruptcy in Ireland from 12 years to three.
The pay isn’t great, but there are travel expenses and the chance to oversee the work of Personal Insolvency Practitioners.
Insolvent debtors are being advised to attempt to work out an agreement with their creditors before contacting the service.
Financial advice group New Beginnings says that new law was inevitable but new insolvency rules should protect debtors.
The new Personal Insolvency Act may work for some but it’s deficient for a sizeable portion of distressed borrowers, writes Ronan Coburn.
The Minister for Defence Alan Shatter said that there was nothing in the Garda Code, the Discipline Regulations or the Personal Insolvency Act 2012 which would prevent gardaí from availing of the service.
The Personal Insolvency Practitioners (PIP) will not be given prescriptive rules around charges, meaning the person who is really in trouble and has no funds could be left on the insolvency scrap heap, writes David Hall, who says there are a number of issues that need to be changed immediately.
The new guidelines do NOT, however, require one parent to give up work if their childcare costs more than they earn.
The Insolvency Service of Ireland has published its guidelines for spending limits to qualify for the new procedures.
The legislation will mean that a court can adjourn repossession proceedings in order to allow for the drawing up of a personal insolvency agreement.
Enda Kenny’s attempt to reassure women over the insolvency controversy does not go far enough, writes Irene Gunning, who says without any form of subsidy, supports or tax relief, childcare costs are borne fully by parents, limiting job options.
129 people travelled in 2012, compared to just 69 in 2011. Just 35 people were declared bankrupt in Ireland in 2012.
As painful and as stressful as it will be for those involved, do large scale property repossessions need to take place for Ireland to recover?
It goes through the various new options available through the new Personal Insolvency Bill to someone who is experiencing financial difficulties.
The long-awaited Personal Insolvency Bill, which will allow some write-down of debts, will be signed into law next week.
Minister Shatter said that this is due to the new work for the courts as a result of the Personal Insolvency Bill.
John Moran tells the Irish Bankers’ Federation that merely not calling in debts won’t cut it – they need to be removed totally.
The bill includes measures to help mortage holders out of debt, with one TD saying it “has the potential to help families sleep easier at night”.
Alan Shatter has said debtors may have to sell off sentimental items such as engagement rings, if they are valuable. So what do you think?
The Minister for Justice said jewellery including engagement rings should be sold off if people want debt relief.
Proposed legislation to reform Ireland’s bankruptcy regime were unveiled this week. Do you think they’ll help?
The new regime reforms our bankruptcy laws, and aims to help the likes of struggling mortgage holders out of debt.
Independent TD Stephen Donnelly says he expects his Family Home Protection Bill to be defeated in the Dáil but he hopes it can influence the personal insolvency legislation published by the government last week.
The cabinet has approved a draft Bill allowing debts to be written off outside of court, while bankruptcy rules are also changed.