Insolvency Service reveals number of bankruptcies so far this year

Insolvency Service reveals number of bankruptcies so far this year

More than 180 people have gone bankrupt so far this year, according to the Insolvency Service of Ireland.

The service revealed today that for the first eight months of the year 183 people were adjudicated bankrupt in the country.

From January 2014 to December 2018, there has been a further 2,323 people adjudicated bankrupt, an average of 464 a year.

Christopher Lehane, the Official Assignee in Bankruptcy, said: “To put the figures in context the total number for persons adjudicated in the previous 14 years i.e. 2000 to 2013 was 225, an average of 16 cases per year.

“Thankfully the stigma formerly attached to bankruptcy is substantially gone as the public realise that those who can pay, do pay in bankruptcy and there is a robust regime to ensure that happens.

"From a debtor’s perspective they need to appreciate that while their credit rating is affected until they deal with their debts, in the norm after one year of bankruptcy, their debts are gone and they can start repairing their credit history. Bankruptcy works”.

Mr Lehane encouraged anyone with serious debt issues to contact a Personal Insolvency Practitioner, details of which are available on www.backontrack.ie or by calling 076 106 4200.

People can also freetext GETHELP to 50015 for a call back from the ISI.


More in this Section

Numbers on trolleys in Irish hospitals hits five-month highNumbers on trolleys in Irish hospitals hits five-month high

Westmeath obstetrician 'relieved' as Medical Council dismisses case against her over 'weak' evidenceWestmeath obstetrician 'relieved' as Medical Council dismisses case against her over 'weak' evidence

Man, 70s, dies after early-morning crash in Co RoscommonMan, 70s, dies after early-morning crash in Co Roscommon

Beef crisis latest:  'Self harm' being inflicted on industry; Concern for non-EU workers laid offBeef crisis latest: 'Self harm' being inflicted on industry; Concern for non-EU workers laid off


Lifestyle

A new RTÉ series takes viewers behind the scenes at Ireland’s finest eateries – including Restaurant Chestnut, a Michelin award-winner within six months of opening. Vickie Maye meets the chef behind it, Rob KrawczykGoing beyond the menu: RTÉ series goes behind the scenes at some of Ireland's finest restaurants

Whether you’re into a ‘no make-up make-up’ look or jet black lipstick, LFW had it all.These are the biggest beauty looks from a vampy London Fashion Week

It will take you out of your beauty comfort zone, but is remarkably easy to pull off.London Fashion Week: This top make-up artist wants you to ditch your cat-eye for a ‘blue fade’

Columnist and trained counsellor Fiona Caine advises a 20-something man who isn’t having any luck meeting women in bars and clubs.Ask a counsellor: ‘Neither me or my mates have had a date for years – what are we doing wrong?’

More From The Irish Examiner