Lorcan O’Connor: Bankrupt numbers to double

Lorcan O’Connor — director of the Insolvency Service of Ireland — says he expects the numbers applying for bankruptcy to double following the changes made to the bankruptcy regime here last year.

“There is likely to be a be a large increase,” he told the Irish Examiner, noting that as recently as 2007 there was only one person who had applied for bankruptcy.

He also said that the Insolvency Service with Mabs — the Money Advice and Budgeting Service — is now represented in all repossession courts around the country to ensure that people facing repossession are aware of other solutions.