Insolvency service site visits double as rate increases bite – The Irish Times

The Insolvency Services of Ireland (ISI) has seen visitors to its debtor-focused website double in the first three months of 2023, with industry sources linking much of the spike to borrowers whose loans were sold to overseas investment funds in the wake of the financial crisis and are now facing above-the-odds interest rates.

The number of visitors to the ISIs backontrack.ie site rose by 101 per cent on the year to 31,500 in the first quarter, a spokeswoman for the service said.

It cannot be presumed that visits will convert to arrangements, but clearly many more people are examining their options and checking whether a personal insolvency arrangement might be the answer, she said.

Variable rates

The focus on rates on loans owned by inv…

Read the full article at: https://www.irishtimes.com/business/2023/05/20/insolvency-service-site-visits-double-as-rate-increases-bite/