Bankruptcy inquiries ‘double’ after new one-year term reform

A large increase in the numbers inquiring about the new bankruptcy regime just weeks after the new one-year term became law shows there is new hope for indebted Irish households, according to an accountancy specialist.

Neo Financial said that inquiries to its offices have doubled and as a result it had updated its ‘Layman’s Guide to Irish Bankruptcy’ after the bankruptcy term was cut from the previous three-year term.

“The introduction of the one-year bankruptcy term now provides a real debt solution for everyone,” said Paul Carroll of Neo Financial.