Thousands enlist help of private debt companies

TENS of thousands of Irish people in debt are enlisting the help of private debt management companies to renegotiate new repayment terms with their lenders.

National Debt Relief, a British firm set up here last August, has dealt with more than 12,000 customers, according to its director.

Another similar firm, Debtadvice.ie, said it too was dealing with “very significant volumes” of people in debt, but would not reveal exact figures.