172 in­sol­vency cases over four years in Wex­ford

Enniscorthy Guardian - - NEWS -

THERE were 172 in­sol­vency ar­range­ments made in County Wex­ford in the pe­riod be­tween 2014 and the first half of this year. The fig­ure was com­prised of Debt Re­lief No­tices (DRN), Debt Set­tle­ment Ar­range­ments (DSA) and Per­sonal In­sol­vency Ar­range­ments (PIA).

The court ap­proved ar­range­ments equated to a rate of 15.6 per 10,000 adults in the county.

There were also 76 bank­ruptcy ad­ju­di­ca­tions made in the county for the same pe­riod rep­re­sent­ing a rate of 6.9 per 10,000. The fig­ures were pub­lished by the In­sol­vency Ser­vice of Ire­land in its sta­tis­tics for Quar­ter 2, 2018.

While the ad­ju­di­cated bank­ruptcy rate was 6.9 the overall num­ber of bank­ruptcy so­lu­tions ap­proved be­tween Quar­ter 1, 2014, and the first half of this year amounted to 248 at a rate of 22.4 per 10,000.

In the case of DRNs pro­vi­sion is made to write-off the qual­i­fy­ing debt up to €35,000 sub­ject to a three-year pro­vi­sion pe­riod.

DSAs pro­vide for the agreed set­tle­ment of un­se­cured debt, with no lim­its in­volved over a pe­riod of up to five years while PSAs make pro­vi­sion for re­struc­tur­ing or set­tle­ment of se­cured debt (up to €3m) and set­tle­ment of un­se­cured debt over a pe­riod of up to six years.

The num­ber of debtors se­cur­ing PIAs - which re­turns debtors to sol­vency while keeping the ma­jor­ity of them in their own homes is con­tin­u­ing to rise.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.