RTE Six One News: Insolvency Service piece by Conor Hunt, 3rd April 2014

We gave a few thoughts on the recent ISI figures.

That the case numbers are low is to be expected, firstly, informal negotiations have had a six year head start, you can’t expect the ISI to be caught up already, secondly, in the UK it took about a decade for the system in general to find its feet.

Lastly, many people don’t want to use personal insolvency as it is rigid and informal deals are not to the same extent, banks offer better terms outside of insolvency, and perhaps the greatest success is that banks are doing these deals only since the ISI launched.

Prior to that they wouldn’t so the fear of people using these solutions has spurred the lenders into action.

Leave a Comment

Awesome! You've decided to leave a comment. Please keep in mind that comments are moderated.