THE Insolvency Service of Ireland (ISI) was set up in March 2013 to provide debt relief mechanisms to those facing insolvency, or the inability to service their existing debts. The new service was set up under the Personal Insolvency Act 2012 and while it’s yet to formally process any applications from struggling debtors it finally opened for applications on Sept 9.

The Minister for Transport Leo Varadkar has apologised for saying anything that contradicts the Government's position on childcare costs and personal insolvency.

Justice Minister Alan Shatter said today that putting the upper limit of the debt that can be written off under the personal insolvency bill at €3m is not about helping rich people.

Proposed new legislation on personal insolvency has been described by Fianna Fáil as "a step forward", but the part said the role of banks needs to be reviewed.

Publication of the Personal Insolvency Bill 2012 today was welcomed by Chartered Accountants Ireland (CAI), with the professional body describing the legislation as a step which can help many people currently enduring economic hardship as a result of the financial crisis.

Long-awaited legislation on personal insolvency has been published today by Justice Minister Alan Shatter.

The government bill dealing with the mortgage arrears crisis, due for publication shortly, will see the introduction of non-judicial agreements between banks and their customers in a bid to avoid wide-scale repossessions.

Justice Minister Alan Shatter will finally reveal details of new personal insolvency legislation this morning.