Law body proposes new way of dealing with debt enforcement

A new approach to debt management is being proposed by the Law Reform Commission who want debt enforcement to stay out of the courts.

The body will launch their interim report on debt management this afternoon.

One proposal involves preparing a Standard Financial Statement for creditors to sign up for a national standard to deal with those who owe them money.

Director of Research with the Law Reform Commission, Ray Byrne, has said the Irish Banking Federation and the Money Advice and Budgeting Service are on board.