Agreements between banks and homeowners to discharge insolvency within three months.

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Revolutionary agreements have been made between banks and indebted homeowners that have seen people discharged from insolvency within three months.

It has been said that 100 such agreements will have been made by the end of the week.

The agreements involve the Irish Mortgage Holders Organisation, Grant Thornton and the Banks.

It also been said that this is a real game changer for debtors.

It has been described as a “revolution” in the insolvency process.