Bankruptcies could top 7,500 next year amid ‘shocking’ debt levels

The number of bankruptcies in Ireland could be as high as 7,500 next year, according to a Clare Personal Insolvency Practitioner (PIP).

Contrary to public opinion, Ennis-based accountant, David Williams of Williams J W and Co, has warned that the new Personal Insolvency Arrangements (PIA) will not provide the panacea for the huge level of personal debt throughout the country.

Instead, Mr Williams predicts that by default bankruptcy will be become the chosen route for thousands of people.