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New bankruptcy laws introduced

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New bankruptcy laws introduced

TodayFM
TodayFM

3:04 PM - 3 Dec 2013



The Justice Minister (pictured above) has signed an order to introduce new bankruptcy laws in Ireland.

The time-frame will be shortened from 12 to three years under the less punitive and costly regime.

Its the latest in a suite of measures, under the Personal Insolvency Act, to help people in high debt.

Former businesswoman and homeowner, Jillian Godsil, will be among the first people to avail of the new bankruptcy laws:
She says the changes are necessary to provide some hope to people crippled by debt:Minister Shatter says he hopes the new measures will help to end the so called bankruptcy tourism to the UK - where the period a person lasts for just 12 months.

And he hopes it will also enable people to make a new start:



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