A borrower has emerged from bankruptcy after just one year, following an application to the High Court.

This is the first time an individual has been discharged early under the new regime, which specifies a three year term for bankruptcy.

New laws reduced bankruptcy in Ireland from 12 to three years last year.

Sharon Monahan is a solicitor and CEO and Founder of Fresh Start Financial Solutions.

"He basically was forced into bankruptcy, he voluntarily surrendered his home and then there was the issue of the residual debt", she told Newstalk Breakfast.

"So he had no option but to enter the bankruptcy process".

But she adds: "It's a situation where he shouldn't have been put into bankruptcy in the first place".

She told Newstalk Breakfast the debtor should not face undue stress as part of the process.