800 people who entered bankruptcy proceedings last year will be debt free today.
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A law change in 2015 means that the process has been cut from three years to just one.
The new system is designed to help those who got into personal debt during the recession.
The Insolvency Service of Ireland has also unveiled a new scheme for people struggling with mortgage repayments – from now on those who can't meet their monthly repayments will have free access to insolvency experts.
