Debt Help Forum Contact Us About Us Home Debt Divas


Debt Help For Residents Of Ireland

7th August 2013

Traditionally the available debt help measures in Ireland have been hugely unattractive. Bankruptcy has been accompanied by especially severe consequences. There have been no “intermediate” insolvency options (like an IVA or protected trust deed in the UK) that can be used in Ireland as an alternative to bankruptcy.

The outcome of this situation has been somewhat of a stalemate. Many thousands of people have become trapped with debts that they cannot afford to repay but have no option (that is acceptable to them) to resolve the problem.

The Irish Government, in response, has now brought forward new insolvency legislation that creates a new selection of debt management solutions that can be used to tackle debt problems. Access to these new debt solutions is about to commence.

A new website (to which we’re somewhat affiliated) has been established to serve as a resource providing debt help for residents of Ireland. The website integrates information pages, news, articles, and an online forum where people can seek out information about these new options from qualified debt experts.

The debt solutions forums within this website ( are likely to become an especially valuable resource. The new debt solutions in Ireland aren’t yet well-known and therefore public understanding about how they will work is currently negligible. By facilitating online contact between the public and insolvency professionals it’s hoped that greater understanding can quickly be built amongst those that are struggling the most with debts.

What are the new debt solutions?

Personal Insolvency Arrangements are designed to assist people that have financial difficulties that can only be resolved by addressing both secured and unsecured debts.

Debt Settlement Arrangements are intended to provide debt help where the repayments for unsecured debts have become unmanageable. The debtor will have to be able to contribute towards their debts (some of which may be written off as part of the arrangement).

Debt relief notices will be available to those that have a limited amount of unsecured debt that they cannot manage. To qualify an individual will also need to have little or no disposable income that can be used to contribute towards their debts. They’ll also only be able to own comparatively modest assets (that otherwise might be disposed of to repay the debts).

Bankruptcy has also been changed. The old period until discharge was an excessive twelve years. In the UK it’s just one year. Ireland will be reducing the term until discharge to three years in the future.

Debt Divas will be keeping an eye on developments in Ireland as these new debt help measures are introduced. It remains to be seen to what extent the public and creditors take to them.

Fees |Complaints Procedure | Other Sources Of Help | Credit Rating

Newsletter Debt Analyser Debt Help Forum Contact Us

Interest Calculator