Wednesday, 24 April 2013
Department of Justice and Equality
Debt Resolution Processes
204. To ask the Minister for Justice and Equality if he will provide an estimate of the number of applications for personal insolvency orders, bankruptcies and debt relief notices that will be made in the State in the first 12 months after the commencement of the Personal Insolvency Act 2012. [19355/13]
It is difficult to ascertain the likely demand on the Insolvency Service of Ireland. The tentative estimate of applications for the two main debt resolution processes - the Debt Settlement Arrangement and Personal Insolvency Arrangement - is roughly 15,000 applications plus a further 3,000 to 4,000 applications for Debt Relief Notices in the first full year. In addition, approximately 3,000 bankruptcy applications are expected during this time.