Independent piece by us: Why insolvency will be the only game in town

We wrote an opinion piece in the Irish Independent about insolvency and how using some form of it will be required to make lasting debt solutions. It appeared in the paper at the start of the month:

Even detractors will start to sing off the Insolvency Service of Ireland hymn sheet. The change of attitude that is about to take place will be interesting to watch. People who did nothing other than put down personal insolvency solutions claiming they don’t work will soon be converting and turning to genuflect at its altar. Why? Because informal debt solutions alone have too many downsides, and they aren’t backed by insolvency legislation that gives defined start and end times or other set boundaries to the deals. For the companies doing informal deals there’s the new regulatory burden, which creates more administration in the process and drives up costs, which end up heaped on the already financially pressed people who need the help. The Central Bank authorisation process is both long and hard, and a further round of changes to requirements is due out …

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