An insolvency company has revealed details of its clients who have gone bankrupt under rules introduced a year ago.
The figures show that banks which lent mortgages to these clients have had to write off 68% of the outstanding debt.
In all of the cases the borrowers will lose or have already lost their homes.
Some of the borrowers had applied for personal insolvency but were turned down by the banks.
The figures have been compiled by the Insolvency Resolution Service, which acts as a personal insolvency practitioner to individuals who are in arrears.
The figures are based on 25 individuals who were adjudicated bankrupt by the High Court this year.
All but one of the cases involved ordinary consumer debt. Four of the borrowers had also bought buy-to-let properties.
The figures show that borrowers were from twelve different counties.
It shows unsecured lenders such as credit card companies have lost all of the money they lent in the 25 cases.
The average total borrowings were €368,000.
The data represents the first analysis of the outcome of bankruptcy cases since the Government overhauled the legislation regarding personal debt in Ireland.
While the sample of 25 borrowers is small, 164 people have been adjudicated bankrupt in the first six months of this year according to the Insolvency Service of Ireland.