I dont normally get to put a positive spin on the thorny topic of debt, but the latest 2020 Annual Report from the Insolvency Service of Ireland (ISI) has some good things in it.
irst are the numbers of Personal Insolvency Arrangements (PIAs), down 3pc(only 3pc, that is, due to the pandemic clogging up courts and government financial supports helping those in debt).
A deep dive conducted by Abhaile, the Mortgage Advice and Budgeting Services mortgage arrears arm found that a welcome 98pc of those who got a PIA structured were able to stay put in the family home, almost four in ten getting a reduction in their mortgage debt.
1,362 debt solutions were put in place overall and more people (262) exited bankruptcy than entered it (130).
That…
Read the full article at: https://www.independent.ie/business/personal-finance/if-you-are-in-financial-difficulties-getting-to-grips-with-debt-is-best-way-forward-40635313.html
