The government group set up to consider measures to deal with personal debt is looking at the introduction of individual voluntary arrangements (IVAs)as a less restrictive alternative to existing bankruptcy laws.
The IVA system, which is in place in Britain, allows people to reach an arrangement to repay creditors over a period of up to five years. Eamon Ryan, the Minister for Communications, Energy and Natural Resources, said the system of IVAs for unsecured...
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