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Rise in debt deals being done

NEW figures show a rise in the numbers of over-borrowed people doing formal debt deals through the courts, but the totals has been dismissed as inadequate.

The Insolvency Service of Ireland said this morning that 150 personal insolvency arrangements (PIAs) were put in place in the three months up to June. PIAs are deals for those with mortgage debts.

It said this, and greater numbers of other debt deals, showed the momentum continues to grow for the service.