personal insolvency Archives - Page 2 of 2

Personal insolvency legislation to be published today

The Government is to publish new personal insolvency legislation this morning, which will reduce the bankruptcy term in Ireland from 12 years to three. The Bill will be launched by Justice Minister Alan Shatter and Finance Minister Michael Noonan. Radically overhauling existing outdated legislation has…

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Mortgage arrears resolution schemes expected in October

Mortgages & Money

The Central Bank has given mortgage lenders until the end of May to categorise their arrears cases and propose solutions for each category. According to a report in today’s Irish Times, the banks will have until the end of September to develop these solutions into…

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Calleary fears personal insolvency bill doesn't go far enough

Mortgages & Money, Property News

Fianna Fáil spokesperson on Justice Dara Calleary has welcomed changes to the laws on personal insolvency and mortgage debt but said he believes an independent authority should be create to provide binding solutions. In a statement to the media, Deputy Calleary expressed concern that the…

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People now able to agree write downs of mortgage debt

Mortgages & Money, Property News

The Government has confirmed that people will be able to agree deals to write down mortgage debt as part of personal insolvency arrangements. Such deals, however, will require a majority of creditors such as banks agree to deals on a case-by-case basis. These would be…

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