Fall in bankruptcy numbers, rise in other debt options – Irish Independent

THERE has been a surprise fall in the number of people being adjudicated bankrupt.

This is despite the bankruptcy term falling from three years to one year from January 29 last.

The Insolvency Service said there was a rise in other debt options, which people may have opted for instead of seeking to be declared bankrupt.

In the first three months of this year a total of 111 people were declared bankrupt.

This was down from 162 in the same three-month period last year, and a decease on the 142 who were adjudicated bankrupt in the final three months of last year.

The fall in bankruptcy numbers comes as …

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