Numbers seeking insolvency solutions falls

Hundreds of people in mortgage arrears have reached settlements with their creditors through the Insolvency Service of Ireland (ISI) this year but the numbers applying for help has fallen.

Up to the end of last month, 675 people had secured Personal Insolvency Arrangements (PIA) this year, enabling them to enter an agreement that combines debt write-downs, payments restructuring and spending restrictions with a 95% success rate in keeping them in their home.