Plans to Reform Irelands Debt System

The Law Reform Commission have revealed plans to change our current debt system calling the old Bankruptcy as outdated and ineffective as well as too expensive for consumer debt. They are hoping that the changes to the system will make it much easier for the courts to distinguish the can’t pays from the won’t pays. This will be achieved by the establishment of a new Debt Enforcement Office which will examine the means of the debtors if the office finds they can pay then an enforcement order will be issued however if the office decides a debtor can’t pay then a stay will be placed on any proceedings until a settlement has been reached with creditors. The system would use Mabs and licensed money advisors to negotiate settlements with the creditors.

Debt Assist welcomes the news that the government is finally set to step in and help the thousands of people with massive debts that have no hope of repaying them. We have been market leaders in Ireland in negotiating reduced repayments for our clients and freezing interest and other charges being added on top of an already huge debt. We deal with both credit card and mortgage arrears and any other form of secured or unsecured debt. Call us on 1890 87 67 27 or visit us at http://www.debtassist.ie/ to book a free consultation with one of our advisors and let Debt Assist help you with your debt problems.