THE INSOLVENCY SERVICE of Ireland (ISI), had now been accepting submissions for just over a month and recent figures from the Department of Justice reveal there are 52 Personal Insolvency Practitioners (PIPs) across the country, with four counties having no PIP at all.
Anyone who wishes to go through the process must apply through a PIP, who is responsible for operating settlement agreements and insolvency arrangements, with the first batch of these approved at the start of August this year, before the service started accepting applications.
In response to a recent parliamentary question, Minister for Justice Alan Shatter said that in addition to the 52 PIPs across the country now, there are also 38 individuals within 13 Money Advice and Budgeting Service (MABS) companies authorised to act as approved intermediaries.
Dublin has the highest number of PIPs at 18, followed by Cork and Galway, with five each. There are no PIPs in Kilkenny, Longford, Monaghan or Wexford, though three of these counties have MABS companies that act as approved intermediaries.
“The ISI is continuing to authorise approved intermediaries and Personal Insolvency Practitioners, therefore those numbers will increase in the coming months,” Shatter said in his response.
He added that in the interest of confidentiality, the ISI has stated that it will not be providing details or breakdowns of the numbers of applications for the various debt relief solutions received or being processed at this time.
“The ISI fully intends to provide quarterly statistics once a statistically meaningful number of applications have been processed,” he said.