There has been a new Irish Insolvency Bill installed as recent as the end of June 2012. This new radical legislation is designed to overhaul Irish law on personal insolvency and Bankruptcy.
One major point that has been addressed is the length of a bankruptcy period from 12 years to just 3. Estimates show that around 21,000 people in Ireland could benefit from the new legislation in the coming year.
This insolvency bill comes as a relief for many people in Ireland who are struggling with personal insolvency problems.
