Thursday 22 March 2018

Debt schemes won't help many ordinary families

TO what possible problem could this be the solution? The old joke would seem to apply in spades to the new personal insolvency system which came into force yesterday.

But there is nothing funny about the dismay which will be felt in so many indebted households when they realise that this is not the answer to any of their woes. Even before the official launch, a major obstacle had emerged – fees.

People unable to cover their debts will have to pay for the complex arrangements needed to get relief under the personal insolvency or debt settlement schemes.

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