The insolvency service of ireland says it is now dealing with over €300 euro of debt, and has acted as a significant catalyst for change in the area of personal debt.
Figures released for the 1st quarter of 2014 show there are more than 500 cases in process with ISI.
In total 66 bankruptcies have been dealt with - that's greater than the entire figure for 2013.
ISI Director Lorcan O Connor says the service is having an impact on wider society.
"These new debt solutions are not just good for people struggling with debt, but are also in the interest of creditors," said Lorcan O'Connor. "They offer an efficient and fair means to tackle what is a very large problem for everyone. Ultimately it is in all our interests to return insolvent people to solvency, to ensure their wellbeing, and give them the second chance they deserve."
Mr O'Connor encouraged anyone with serious debt issues to consult one of the growing network of Approved Intermediaries (AIs) and Personal Insolvency Practitioners (PIPs) throughout the country.
