The Insolvency Service of Ireland yesterday launched its information campaign: “Dealing With Debt”.
• Three new debt solutions available – ISI will help restore people who are insolvent to solvency in a fair, transparent and equitable way
• Light at the end of the tunnel – hope for people and families who are in genuine distress and cannot pay their debts
• Within three to six years people who are insolvent can become solvent again, without having to resort to bankruptcy
• Information on the solutions, the Guide to a Reasonable Standard of Living and Reasonable Living Expenses, and Regulations for Practitioners available on the ISI website (www.isi.gov.ie
• A telephone information line is available for queries: 076 106 4200
• Regulatory framework to be published shortly for the countrywide network of independent practitioners who will work with people in debt
• People in debt and their creditors encouraged to reach agreement on deals where possible, before entering into an insolvency agreement
Minister Shatter said:
Behind all of the insolvency statistics, there are real people and real families in genuine distress. They deserve to get a second chance and the opportunity to participate fully in society as they work their way to agreed solutions with their creditors. The three new debt solutions available provide certainty for those crippled with unsustainable debt and will help restore people who are insolvent to solvency in a fair, transparent and equitable way.
Director of the ISI, Lorcan O’Connor added:
Our objective is to help restore people who are insolvent to solvency in a fair, transparent and equitable way. We know that people are living in distress. We know the anxiety and the distress that money challenges like this can cause and how they impact on people’s lives. For that reason, we have been focussed on making the new debt solutions available as quickly as possible.
Visit the Insolvency Service of Ireland website here