The number of struggling homeowners seeking debt solutions soared by 123 per cent to 1,082 in the second quarter, figures show.
The Insolvency Service of Ireland (ISI) reported the dramatic increase in the number of mortgage holders applying for personal insolvency arrangements (PIAs).
PIAs are specifically designed to help struggling mortgage holders. In total, the agency received 1,259 debt solution applications between April and June the majority of which were from homeowners in arrears.
Nearly 33,000 households were at least two years behind on their mortgage repayments at the end of March.
The total number of people behind on their repayments was 76,420.
Lorcan OConnor, director of the ISI, said that legislative changes coupled wit…
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