The minister’s plan to tie such payments to the minimum essential standard of living is welcome and progressive, writes Paul Ginnell.

A High Court judge, in a significant decision concerning the effect of “reasonable” living expenses guidelines in Personal Insolvency Arrangements, has approved separate arrangements aimed at ensuring a couple and their four children, and a separated mother of three, remain in their homes.

A personal insolvency arrangement involving a €343,785 mortgage debt being written down by more than half has been approved by the High Court for a woman who ran into mortgage arrears due to her husband's gambling problem.

More than 3,300 households in serious mortgage arrears have been spared the loss of their homes with the help of the Abhaile scheme.

Over the last two years, the courts have overturned 78 decisions by creditors to refuse personal insolvency arrangements for those in severe debt and at risk of losing their homes.

A year after being declared bankrupt, Independent TD Mick Wallace is scheduled to walk away from debts of more than €30m.

Here’s a briefing on some of the stories and issues highlighted on irishexaminer.com today

The statutory body tasked with returning people in debt to solvency has welcomed the introduction of a new scheme aimed at assisting distressed mortgage holders.

Convicted fraudster Breifne O’Brien has been adjudicated bankrupt by the High Court.

A large number of people in serious financial difficulty likely waited for changes to the country’s bankruptcy laws so as to take advantage of the newly introduced shorter term, according to a bankruptcy specialist.

Finance Minister Michael Noonan was strongly opposed to changes designed to help struggling mortgage holders just months before they were approved.

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.

Calls to a charity supporting people in mortgage distress almost doubled in the past two years, challenging perceptions that the country’s economic woes are over.

Bankruptcy applications are expected to soar after new rules came into effect reducing to as little as a year the period that employment and credit restrictions apply to bankrupt individuals.

The state’s Money Advice and Budgeting Service (MABS) has rolled out a new service to help homeowners struggling with mortgage debt. The new dedicated mortgage arrears service will include the provision of court mentors at repossession sittings right across the country.

People who apply for bankruptcy will be allowed take ownership or interest in their family home after three years, under new laws.

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The number of owner-occupiers sliding deeper into arrears who now find themselves two years or more behind on their repayments has increased for the 11th consecutive quarter.

The number of people dealing with their mortgage debts through the Insolvency Service of Ireland (ISI) has risen in the past year, but the overall figure has been branded “pathetic” by those advocating an overhaul of debt services.

The Department of Finance is to spark a scramble among the country’s top PR firms for the prestigious contract to design and implement a national communications strategy on the Government’s plan to address mortgage arrears.

Mortgage debt write-downs are needed to help families trapped in arrears, insolvency experts told TDs.

The Coalition has claimed a major triumph in halting the mortgage arrears crisis by curbing the power of banks to block debt deals — despite the fact that only 115 have ever been vetoed by lenders.

Fresh calls have been made for a solution to the consumer debt problem, with new figures showing a 56% year-on-year increase in money awarded to the banks in bad debt court judgments in the first quarter.

Almost three quarters of people living in insolvency and who have used a personal practitioner to liaise with their creditors have managed to agree a settlement which could leave them debt free.

Nearly 400 SME jobs were saved during the first quarter of this year through use of the examinership process; now made easier and more cost-efficient by new legislation.

Limerick TD, Kieran O'Donnell, believes series of simple and practical measures that can ensure the issue of mortgage distress will be underpinned by the goal of saving the family home where at all possible.  

The UK debt management agency Step Change will launch its services in Ireland by April, the Irish Examiner has learned.

There were 448 personal bankruptcies last year according to the state’s insolvency service, amid fears many of those cases involved the repossession of family homes.

More than €100m of Irish debt has been written off in the UK over the past 18 months, using a system that is simpler to use for those in financial difficulties.

If a growth in repossessions by the banks is not halted, it could spell real political trouble, according to Kyran Fitzgerald. Revenue is the biggest elephant in the room. It should be compelled to participate

An increasing number of householders in debt are choosing bankruptcy instead of the new insolvency regime under new, less-restrictive rules in operation since March.

Justice Minister Frances Fitzgerald has said she hopes to "shortly" be able to announce a reduction in the cost of becoming bankrupt, though her department would give no indication as to the size of the cut being considered.

The State agency set up to help free ordinary people from unmanageable debts has a fraction of the clients it expected despite the massive level of household mortgage, loan and credit card arrears in the country.

A mortgage expert has said the Insolvency Service of Ireland has "failed" and called for an overhaul of how insolvency is managed.

Fianna Fáil’s Niall Collins questioned Justice Minister Frances Fitzgerald on whether the insolvency judges should be available for other duties.

Irish Mortgage Holders Organisation chief executive David Hall has described the Insolvency Service of Ireland (ISI) as "not fit for purpose" following the release of the latest bankruptcy figures.

There has been a 50% jump in the number of people applying for bankruptcy, according to the Insolvency Service of Ireland.

Bank of Ireland will seek to veto any personal insolvency arrangement which includes a full or partial mortgage debt write-off.

Bank of Ireland says it will use its veto against a Personal Insolvency Arrangement if a debt write-down is suggested.

A significant number of company failures are expected to materialise this year, despite new figures showing a continued steady decline in the level of corporate insolvencies during the first quarter of the year.

The Insolvency Service of Ireland has admitted it is off to a slow start after it secured just four mortgage write-downs for hopelessly overburdened debtors in its first seven months in operation.