Pádraig Mac Lochlainn (Donegal North East, Sinn Fein) | Oireachtas source

I move amendment No. 10:

In page 26, line 8, to delete "€20,000" and substitute "€30,000".

The rationale for this amendment is quite straightforward, namely, to broaden the criteria in regard to the debt relief notice. Specifically, organisations such as the Free Legal Advice Centres have recommended that the applicable debt limit be increased to €30,000, as we propose here. As it stands, people who are fundamentally insolvent and with debts of between €20,000 and €30,000 will be forced to apply for a debt settlement arrangement. Such applications are likely to be rejected by way of creditor veto because the debtors concerned will have very little positive influence in terms of assets and so on to offer.

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