• Home
  • About Us
  • Our Team
  • Practice Areas
    • Property Law and Conveyancing Solicitors Ireland
    • Administration of Estates / Probate
    • Family Law
    • Personal Injury
    • Wills
    • Other Services
  • Notary Public
  • Fees
  • Contact us
  • Blog
  • Careers
Direct Law SolicitorsDirect Law Solicitors
Direct Law Solicitors

FOR LEGAL ADVICE CALL:
(01) 849 4226

Phone No:   (01) 849 4226
  • Home
  • About Us
  • Our Team
  • Practice Areas
    • Property Law and Conveyancing Solicitors Ireland
    • Administration of Estates / Probate
    • Family Law
    • Personal Injury
    • Wills
    • Other Services
  • Notary Public
  • Fees
  • Contact us
  • Blog
  • Careers

Slow Start to New Insolvency Regime

Home BlogSlow Start to New Insolvency Regime
Testing ..

 

It comes as no surprise that today’s newspapers are reporting a slow start to the number of applications being made under the new insolvency regime.

Minister for Finance Michael Noonan has defended the new Insolvency Service of Ireland (ISI)’s public register which will identify everyone who uses it and insisted a proper infrastructure was in place to handle more than 1,000 anticipated applications every month.

The ISI started accepting debt applications yesterday and the Minister accepted that publicity around the register may deter some indebted people from using it.

“It might, but obviously it is not for everybody. Some people will try to make direct arrangements with people they owe money to,” Mr Noonan said.

 “If somebody is indebted and has a lot of creditors around the city for example, it’s no big secret so there isn’t a huge breach of confidentiality but it is in the interest of protecting the interests of everybody else in business – I hope it works and I think it will,” he said.

It is estimated that more than 15,000 people are likely to use the service in the first year but take-up on day one was slow.

The ISI said it had received just over 100 calls yesterday while 3,000 people had accessed its website and about 30 emails had been submitted to the agency. A spokeswoman had no information on actual applications and said the volume would depend on the readiness of debtors to submit their details to the new service

The Money Advice and Budgeting Service (Mabs) said it had seen an increase in the numbers making enquiries about insolvency arrangements yesterday but said few, if any, people were ready to make actual applications.

Shane Dowling of  Direct Law, Solicitors in Skerries, is qualified to advise on all aspects of Personal Insolvency

Contact Us

We're currently offline. Send us an email and we'll get back to you, asap.

Send Message

Contact Detail

First Floor, Unit 10,Skerries Point Shopping Centre, Skerries, Co. Dublin, K34 PV48

Phone No: 01 849 4226
Email: info@directlaw.ie

Information

  • Home
  • About Us
  • Our Team
  • Skerries Office
  • Contact us
  • Fees
  • Links
  • Careers
  • Sitemap

Services

  • Property Law and Conveyancing Solicitors Ireland
  • Administration of Estates / Probate
  • Family Law
  • Personal Injury
  • Wills

Latest News

Phased expiry of NPPR Charges

Phased expiry of NPPR Charges

July 15, 2021

The Department of Housing, Local Government and Heritage has...

The New Judicial Guidelines – Change in the Landscape for Personal Injury claims

The New Judicial Guidelines – Change in the Landscape for Personal Injury claims

June 25, 2021

COPYRIGHT © 2023 Direct Law. ALL RIGHTS ARE RESERVED. Privacy Policy Cookie Policy Design by:  Website Design & Development Cork