A glimmer of light for struggling borrowers
The Personal Insolvency Bill offers a series of solutions for debt-ridden individuals and draws a distinction between secured and unsecured debt, writes Emma Kennedy.
The publication of the top line detail from the forthcoming Personal Insolvency Bill has cast some light on the plight of those battling with debts. With almost €3 billion owed on Irish credit cards and 8.1 per cent of private residential mortgage accounts in arrears for more than 90 days - not to mention the balances owed on personal loans and car loans - Ireland is a hugely indebted nation.
As part of Ireland's bailout package, the...
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