Labour politician Willie Penrose has said he will meet officials from the Department of Justice next week regarding his bill to reduce the bankruptcy period from three years to one year.
Earlier, the Taoiseach Enda Kenny said that bankruptcy was not a central aspect of the mortgage distress relief options under discussion, but that it would form part of the proposals.
He said the bankruptcy time frame had been reduced from 12 years to three without much disagreement recently.
The Taoiseach cautioned that about 70% of bankruptcy ended up in houses being repossessed.
Mr Kenny said allowing for this option as part of the solution was not Government policy, or priority, but it was something that would be considered as part of the response.
This evening, Mr Penrose said: "just because an idea does not emerge from right wing ideological think tank of Fine Gael doesn't mean it doesn't have merit."
He added that it was not put forward as a unique solution to the mortgage arrears issue, but it would make a contribution.
Mr Penrose said he believed there would be political repercussions if it does not pass through.
He said that this would be due to people in the Republic being treated differently to those in the North where the bankruptcy period is one year.
