Debt Write Offs Possible in Spring

The new  Insolvency Service of Ireland should be up and running and  accepting  debt relief applications in the second quarter of 2013 .
Any applications will be  published on a  public register

But the Department of the Taoiseach has said that its IT systems to deal with the applications may not be up and running until the second half of 2013.

Earlier this year the EU Commission warned that new personal insolvency laws could see the focus placed on larger  mortgage cases at the expense of smaller, hard-pressed homeowners in greater distress.

The maximum level of  debt write off under the insolvency legislation is €3m  – but the  EU commission have previously expressed concern that this might be “unduly high”.

The Government has approved an initial staff of 80 for the Insolvency Service, and eight Circuit Court judges will be allocated to deal with the cases.