Insolvency cases on the rise Leeside
By contrast, bankruptcy rates are down.
The number of insolvency cases in Cork has almost doubled for the first three months of this year in comparison to the same period last year.
Figures from the Insolvency Service of Ireland show that 53 Personal Insolvency Arrangements were filed Leeside during that time.
Meanwhile, bankruptcy rates have fallen - with 19 people filing for bankruptcy between January and March of this year in Cork.
Cork Solicitor and Personal Insolvency Practitioner Alan McGee says the figures can be attributed to a number of legislative changes.
A rejected insolvency arrangement can now be appealed when the family home is at risk and the bankruptcy period has been reduced to 12 months.
Speaking to RedFM News, he says the figures aren't surprising:
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