Cutting bankruptcy period to one year may get Labour party backing today

Cutting bankruptcy period to one year may get Labour party backing today

A senior Labour figure has said proposals on cutting the bankruptcy period could get party backing later.

Deputy Willie Penrose has been working on plans to bring the bankruptcy period down to one year after it was already cut to three years from the original 12.

The proposals are expected to be discussed at the parliamentary party meeting today.

Pat Rabbitte said the changes could be useful in people's dealings with banks.

"The idea behind it of the 12 months might well alter the dynamic in terms of putting more pressure on the banks to respond to the system," he said.


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