Farm Ireland

Saturday 22 October 2016

Financial help on hand at Ploughing

Published 22/09/2015 | 02:30

Calculator with Euro notes and coins. Finance concept. Close-up.
Calculator with Euro notes and coins. Finance concept. Close-up.

The Insolvency Service of Ireland will be at this year's Ploughing Championships offering information on a range of debt and money-related issues.

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Thousands of people have already benefited from the Insolvency Service, which has backing from the Courts.

The independent body was set up by the Government to help tackle personal debt problems in fair and transparent way.

The new Personal Insolvency Act includes an appeals mechanism for debtors in the one out of five cases where creditors reject a Personal Insolvency Arrangement proposal. This proposal is a formal agreement with creditors whereby they agree to writing off a certain amount of debt and restructuring the remainder. A key feature is that a debtor will often be able to remain in their home.

The maximum debt eligible for a debt relief is also being increased from €20,000 to €35,000, which allows for the complete write off up debt up to this level.

Amanda McLoughlin of the Insolvency Service of Ireland said that the fresh start offered by the organisation was often life-changing for the individuals involved.

"We encourage anyone seeking information for themselves or a friend or family member to visit us. There is a solution to every debt problem and we would encourage people to start tackling their debt problems today," she said.

Further information is available by logging on to or calling 076 106 4200. The Insolvency Service tent is at Block 4, Row 24, Stand 414.

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