Debt write-off applications up as bankruptcy numbers fall –

A total of 347 people agreed deals with their lenders in the first three months of this year in situations where they are unable to pay the full amount.

This was up 16pc on the number of arrangements put in place in the first quarter of last year, figures from the Insolvency Service of Ireland show.

Most of the deals were personal insolvency arrangements (PIAs). These are court-approved restructurings of mortgage and other debts where there is a deal to repay a more manageable amount over a six-year period.

Last month a High Court judge reserved judgment in a personal insolvency application by musician Frank McNamara and his barrister wife Theresa Lowe.

The couple are seeking court approval for an arrangement to assist them in dealing wi…

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