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New guide published on insolvency in Ireland

It goes through the various new options available through the new Personal Insolvency Bill to someone who is experiencing financial difficulties.

Image: Money via Shutterstock

DEBT RESTRUCTURING EXPERT Paul Carroll has written a free, 30-page guide to insolvency in Ireland.

In it he explains what the Personal Insolvency Act is now that it has been made law.

The guide goes through the various new options available through the new Personal Insolvency Bill to someone who is experiencing financial difficulties. It is intended to assist people who are considering availing of insolvency arrangements and whether such arrangements are suitable for them.

It also takes people through how to assess whether they are insolvent or not because, for some people, debt re-structuring is more appropriate.

Carroll outlines how to distinguish between a solvency problem and a liquidity problem, who will help with the process of seeking protection under the Personal Insolvency Bill and the three additional types of arrangements, which are available to solve personal insolvency issues in addition to bankruptcy.

Carroll says he wrote the guide because people were confused as to what was in the Act:

This guide is aimed at helping people determine their own position in terms of insolvency and is the first step in helping them to decide what they need to do.  Financial worries cause untold stress and now that the Act is law, people can actually have clarity.

To download the free guide by Paul Carroll, see this page.

Read: New insolvency regime may not help troubled mortgage holders – Troika

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