‘People won’t get rich on back of debtors’

The Insolvency Service of Ireland does not foresee solicitors, barristers, and accountants getting rich on the back of debtors arranging their bankruptcies.

The new service is looking for qualified people to apply to become approved intermediaries and personal insolvency practitioners who will work directly with people in debt and who are insolvent.

It will not be setting fees for practitioners but due to how the system will be structured, it does not believe there will be a pot of gold for practitioners in bankruptcies.