There were 1,259 new applications in the second quarter of this year for arrangements, according to the Insolvency Service.
This is an increase of 71pc on the same period last year.
Most were to deal with mortgages. They are seeking a personal insolvency arrangement (PIA), which provides for the restructuring or settlement of mortgage debts up to 3m.
This rise comes about following the introduction of Abhaile, the State scheme that provides free financial and legal advice for those in debt distress.
Between April and June there was a 26pc rise in protective certificates issued. This was an increase of more 617.
The issuing of a protective certificate is the first stage of the debt solution process.
And there was a 22pc r…
Read the full article at: http://www.independent.ie/business/personal-finance/big-jump-in-number-of-people-seeking-deals-on-debt-35994080.html