Insolvency arrangements could relieve the pressure on debt-ridden families

What it means for those struggling with debts

Why has this been set up?

Tens of thousands of homeowners are struggling with mortgage repayments and thousands more are debt-ridden having borrowed heavily in recent years. Unable to repay the loans, they are falling further into debt. The Government hopes to relieve some of that debt, under strict measures, and to allow families to begin again contributing to the economy.