Confusion emerges over bankruptcy advice

Confusion has emerged about the regulation of advice for struggling borrowers considering bankruptcy.

8th December, 2013

Confusion has emerged about the regulation of advice for struggling borrowers considering bankruptcy.

New bankruptcy legislation was commenced by Minister for Justice, Equality and Defence Alan Shatter last week. The key change under the new bankruptcy rules is that discharge from bankruptcy happens after three years, not 12, as was previously the case.

Under the government's new personal insolvency regime, the Insolvency Service of Ireland (ISI) will oversee the revised bankruptcy process plus three non-judicial debt...

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