Ross Maguire a barrister was quoted in the Sunday Independent stating that  “There is going to be an avalanche of people applying for bankruptcy through the courts. We have had hundreds and hundreds of people contacting us in the past few weeks inquiring about the new legislation” (via the advocacy group New Beginning).

“We are seeing an explosion of interest in bankruptcy. Each week we give seminars at which hundreds of people show up.

This is depressing news in one respect, but positive in when viewed as people considering a total financial reboot which will bring with it debt forgiveness. For too long people have tried to deal with and negotiate with banks that didn’t want to negotiate with their clients. Bankruptcy will fundamentally change this and change the dynamic.

For our part we hope to be part of that change, our bankruptcy service is designed to give people value for money while helping them make a difficult choice but not one that is tied to bankruptcy, rather one that will help them make the right choice – and that may be some other type of solution.