Senator Katherine Zappone today welcomed the passing of the Personal Insolvency Bill and the inclusion of an evidence based approach in determining a reasonable standard of living for debtors. When preparing guidelines on a reasonable standard of living the soon to be established Insolvency Service will consult with relevant expert groups and refer to poverty and social inclusion indicators.
Senator Zappone said,
“These guidelines are of particular importance as they will determine the minimum amount of income a household retains before it must make payments to creditors. Its inclusion is essential to ensuring that families who enter into debt relief arrangements are still able to attain a basic standard of living.”
Senator Zappone highlighted the need for such an evidence based approach and had brought the Vincentian Partnership for Social Justice’s work on minimum income standards and reasonable standards of living to the attention of Minister Shatter.
Notes to Editors:
Vincentian Partnership for Social Justice’s Adequate Income work: http://www.vpsj.ie/understanding