Tuesday September 29, 2020

Avoid the debt sentence

Ireland’s bankruptcy laws must be changed as a matter of urgency in order to deal with our growing debt crisis

17th July, 2010
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The banking crisis has masked another huge problem in this country:

the massive increase in the levels of personal debt in recent years. It is estimated that the ratio of household debt to disposable income has risen from 48 per cent in 1995 to 176 per cent in 2009.This rapidly rising level of debt in recent years is totally unprecedented.

Total household debt, including mortgages, now stands at more than €150 billion.

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