Insolvency Advice Ireland
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edited November 2015
Looks like bankruptcy term is going to be reduced to 1 year. Surely this will be of great benefit to a lot of people.
So, bankruptcy terms have been reduced to 1 year as the end of 2015. What does this mean? Well, the normal duration of Bankruptcy will be reducing to 1 year, but there will be a payment order duration of up to 3 years, which will be set by the Official Receiver, as well as what level of payment will be required over that period.
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