Travelling in Europe: driving licence and car insurance
Your driving licence is valid wherever you choose to travel in the European Union, and your car insurance policy will automatically provide the ...
Certain issues related to motor insurence in Europe
Nickolay Mladenov, rapporteur . в€’ Mr President, Madam Commissioner, colleagues, and interpreters who are staying this late on such an interesting ...
Best loan deals
When faced with difficulties servicing personal debts, legislation in Ireland leaves few options other than budgeting, prioritising and preparing for the long slog.
‘‘The laws in the Republic are quite frankly draconian,” said Karen Stewart, manager of National Debt Relief Ireland.
‘‘It costs as little as £485 in Britain to declare yourself bankrupt, whereas in the Republic of Ireland it can cost tens of thousands because you have to go to court,” said Stewart.
Legislation in Ireland has a very punitive approach to bankruptcy, relying on the 1988 Bankruptcy Act. Under this act, anyone filing for bankruptcy has a 12-year discharge period, loses control of their property and, when discharged, is still filed on a discharged bankrupts record, according to Paul Joyce from the Free Legal Advice Centre.
Similarly, a formal scheme of arrangement that would allow reduced repayment proposals to pass through court, which are legally binding to all creditors if 60 per cent of them approve it, is also difficult to implement and has rarely been issued.
A number of organisations are lobbying the government to bring laws in line with Britain and other European countries. Last September, the Law Reform Commission published a report calling for an overhaul of the current legislations on indebtedness.
Last year, more than 19,000 new clients approached the Money Advice and Budgeting Service (Mabs), an increase of almost 2,500 people on the previous year. Since then, there has been a 25 per cent surge in individuals contacting the service’s helpline during the first quarter of this year and a general increase has occurred in contacts from all groups of people, according to Mabs spokesperson, Michael Culloty.
Families with mortgages are the fastest-growing group seeking help. Mortgage holders account for 6,827 new clients last year. More than half of all new clients fell into the 26-to40 age bracket and more couples with children approached the service than lone parents. Clients in receipt of social welfare and in rented accommodation, both local authority and private homes, still remain the single largest group.
...