Insolvency regime tackles €3.75bn debt to protect homes

The Insolvency Service of Ireland (ISI), which oversees the country’s new debt resolution procedures for the thousands of households still facing debt, said its latest figures show that the new regime has so far helped people struggling with an aggregate of €3.75bn in debt.

The latest report covers the three months to the end of September and shows that there is a “continuing take-up of the newly introduced alternative solutions to bankruptcy” which is helping keeping people in their family homes, the ISI said.