Sharp increase in debt arrangements

Posted on

The Insolvency Service of Ireland has stated that there has been a sharp increase in debt arrangements and bankruptcies.

The ISI’s statistics show that in cases involving secured debt, primarily home loans, the range of debt being written off in debt arrangements varies from zero to 61%.

The median writedown on secured debt (the average when both the largest and smallest writedowns are excluded) was 17%.

The median amount of unsecured debt being written off was over 80%.