Sir, – The Government's Bankruptcy (Amendment) Bill to reduce the bankruptcy period from three years to a mere 12 months will no doubt be welcomed by various people who have managed to carve out a new career in the burgeoning debt advocacy and forgiveness sector ("Legislation for one-year bankruptcy discussed in the Dáil", December 15th).
However it is a slap in the face for those debtors who are waiting to be paid for services provided, for goods delivered but not paid for; as well as for those who sacrificed things to honour their agreements or who simply lived within their means while all around were living high on the hog using borrowed money.
Let us be in no doubt but that taxpayer-owned banks and community-owned credit unions will lose out – not to mention ordinary small business owners. The cost of credit will increase and lenders will require larger deposits and more stringent lending conditions. – Yours, etc,
MATTHEW GLOVER,
Lucan,
Co Dublin.