Insolvency and the New Debt Relief Provisions
The Debt relief plan as proposed and discussed in todays Irish Times makes for interesting reading, especially for those trapped by debt. These reforms are long overdue when one considers Irelands Victorian regime for dealing with Debt. We cannot espouse the principles of a modern entrepreneurial economy which is by its very nature one that rewards risk […]
Proposed Personal Insolvency Legislation
The UK has had 150,000 people enter some type of arrangement every year. This means we could be looking at roughly 40,000 applications in the first year when the legislation is passed. The new agency to be established will be based on the UK equivalent and will essentially oversee a non-judicial personal insolvency system. The new […]
New Insolvency Legislation
As reported in today’s Irish Times there seems to be big problem with the forthcoming Insolvency Legislation. The banks do not want mortgages included in any possible write-downs. We say it must include secured debt if the country is to move forward. Additionally, if the new arrangements are to be voluntary then the Banks can […]
Debt Forgiveness and the Insolvency Bill
It is reported in todays Irish times that AIB has said that it will step up its pace of mortgage write-offs in 2013 by offering customers who are working with the bank the chance to have some of the debt forgiven. We advise all our clients to keep lines of communication open with both their […]
