Dáil Éireann Debate, Tuesday - 15 July 2014
587. Deputy Michael McGrath asked the Minister for Justice and Equality the number of cases that have been concluded by the Insolvency Service of Ireland to date; the number which have involved a restructuring of mortgage debt; and if she will make a statement on the matter. [31307/14]
Amharc ar fhreagraI can advise the Deputy that the Insolvency Service of Ireland (ISI) published its Quarter 2 2014 Statistics Report yesterday to its website www.isi.gov.ie. Figures up to 30 June 2014, as set out in the Quarter 2 Statistics Report show:
- 180 Debt Solution Arrangements have been approved to date;
- Over 220 Protective Certificates have been issued by the Court. Protective Certificates give protection to debtors against legal action by creditors for a period and allows a Personal Insolvency Practitioner 70 days in which to develop an arrangement;
- There were 164 bankruptcies in the first half of 2014;
- Since its launch, the ISI has had over 850 applications for the three new debt solution arrangements (Debt Relief Notice, Debt Settlement Arrangement and Personal Insolvency Arrangement) introduced by the Personal Insolvency Act 2012.
The ISI expects the number of cases to increase steadily over the coming months, based on the number of draft cases on the ISI system, feedback from Personal Insolvency Practitioners (PIPs) and the publication yesterday of a Debt Settlement Arrangement (DSA) protocol which is designed to make the overall DSA process more efficient and to give greater clarity to all stakeholders including debtors and creditors.
The ISI has advised that it does not have data available on the number of cases that dealt specifically with mortgage arrears.
