Debt Consolidation: Debt Assist can help people with credit card arrears and mortgage arrears and who can't pay their loans. The news that insolvencies are up 127% on this time last year shows that the wider population are still having trouble paying down excessive debt. Debt Assist can help manage that debt why not give us a call on 0818 333 618 or visit www.debtassist.ie to arrange a free consultation.
The latest update from Kavanagh Fennell’s online insolvency publication, InsolvencyJournal.ie, shows that there have been 1,094 insolvencies in the first nine months of this year with the firm predicting that this will increase to 1,400 by year end. The number of insolvencies for the first nine months of the year represents a 127% increase over the same period in 2008 during which time 480 insolvencies were reported. When compared to the same period in 2007, it represents a fourfold increase with 250 insolvencies recorded. The findings show that from January to September construction has been the most severely impacted sector as a result of the economic downturn with 324 insolvencies recorded. This is followed by the retail sector with 165 insolvencies and the hospitality sector with 129 reflecting the impact of declining consumer spending. A high number of insolvencies have also been reported in the manufacturing sector (90) and the motor industry (47).
Debt Assist is the market leader for both personal & Business debt in Ireland and with our inhouse team of solicitors and Accountants we are a one stop shop for all queries regarding debt
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