The recently enacted personal insolvency laws from government are to be re-written. It is understood that people are not availing of the new law because it is too expensive and too complicated.

The new system led to the appointment of six Circuit Court judges to deal with an anticipated rush of court cases.

The government is overhauling the law, just three months after it came into force because it is taking too long to resolve cases.

The Minister for Justice Alan Shatter has organised a meeting with people struggling to pay their debts and banks to try and devise a protocol to take less contentious issues off the table and resolve cases quicker.

Speaking in Limerick this morning the Finance Minister Michael Noonan said he expects the new protocols will be successful.

While Dearbhail MacDonald of the Irish Independent says it is bad PR for the government bid to try to resolve the mortgage arrears crisis.