Ireland cannot afford to get it wrong on debt settlement law

Recent reports speculating on the forthcoming debt settlement legislation in Ireland suggested that the Departments of Finance and Justice had reached agreement to include mortgage debt in the new sch

22nd January, 2012

Recent reports speculating on the forthcoming debt settlement legislation in Ireland suggested that the Departments of Finance and Justice had reached agreement to include mortgage debt in the new scheme, together with other unsecured personal debts.

It has been speculated that applicants for debt settlement will, assisted by personal insolvency trustees, propose plans to creditors to repay portions of debt over a five- or seven-year period and, in return, have remaining debt written off. People...

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