A Co Longford woman had 3 million worth of debt written off for a payment of 1,600 as part of a personal insolvency arrangement approved by the High Court this week.
Josephine Cooney of Mostrim Road, Ballymahon, Longford was unable to pay her debts and sought a financial rescue under the States personal insolvency regime.
Mr Justice Denis McDonald signed off on the personal insolvency arrangement earlier this week, writing down the mortgage on her home from 507,000 to 175,000, the current market value of the property.
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