The Personal Insolvency Act is now Law but with so much speculation in advance, are people confused as to what was actually the final Act?
An Easy-to-Read Comprehensive Guide to Insolvency in Ireland is now available
A guide to Insolvency in Ireland was launched today, Monday, 14th January. Written by Debt Restructuring Expert Paul Carroll, the guide describes the various new options available, through the new Personal Insolvency Bill, to someone who is experiencing financial difficulties. It is intended to assist people who are considering availing of such insolvency arrangements and whether such arrangements are suitable for them.
The 30 page comprehensive easy-to-ready guide takes people through how to assess whether they are insolvent or not. In fact, for some people debt re-structuring is more appropriate. The Guide also outlines how to distinguish between a solvency problem and a liquidity problem. It explains about who will help with the process of seeking protection under the Personal Insolvency Bill and the three additional types of arrangements, set out in the Personal Insolvency Legislation, which are available to solve personal insolvency issues in addition to bankruptcy. These are a Debt Relief Certificate, A Debt Settlement Arrangement and a Personal Insolvency Arrangement.
Neo Financial Solutions is a team of associates led by Paul Carroll, a certified accountant with 25 years experience in Ireland, the UK and the US. Neo Financial Solutions has unparalleled direct experience in dealing with evaluating financial situations, proposing manageable solutions, negotiating with banks and creditors, planning and effecting bankruptcy/insolvency solutions in the least damaging way, if absolutely necessary.
Speaking about the Guide, author Paul Carroll, says, “The Personal Insolvency Act is now law, and there was a lot of speculation in advance as to what it would contain. We have many clients who are confused as to what the final outcome was in terms of provisions within the Act. This Guide is aimed at helping people determine their own position in terms of insolvency and is the first step in helping them to decide what they need to do. Financial worries cause untold stress and now that the Act is law, people can actually have clarity.