The EU ECB IMF troika set out the end of March 2012 as the deadline for the Irish government to publish its final proposals for updating the personal insolvency legislation. The government failed to adhere to that deadline and got an arrangement to put it off until the end of April 2012. Once again the government failed to comply with the drawn out deadline. The latest deadline is end of June 2012. What are the odds that this will deliver the final draft of a Personal Insolvency Bill? Chances … [Read more...]
Good Debt vs. Bad Debt
When used intelligently, debt can be of tremendous assistance in building wealth. However, the word debt strikes fear in our hearts, mine included, because we've all heard stories about people getting into bad debt and bad thing have happened to them. However, I have just learned an interesting fact I'd like to share. There are two different kinds of debt. I did some research and found out that there is good debt and there's bad debt. Good debt includes anything you need but can't afford to pay … [Read more...]
Trying to Keep Tax Credits in an IVA
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It is natural to be afraid of the unknown but it is far better to deal with the unfavorable aspects of any undertaking than to avoid confronting the difficulties totally. The Individual Voluntary Arrangement (IVA) process is just one of those that a person might have an irrational fear of. One of the things that an insolvent person, who is considering entering into an IVA, should verify is whether they might have been overpaid Tax Credits in previous years. If they learn that they have been paid … [Read more...]
