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Personal Insolvency Arrangements Help

20th March 2014

We’ve written previously about how Ireland has introduced a series of new personal insolvency debt options. In this article we’ll explain in more detail about how “personal insolvency arrangements” work and what type of debt problems they cover.

If, after reading this article, you’d like to find out more on this subject you can visit a new website that is dedicated to the subject. Some of the Debt Divas team have been involved in the production of a specialist website on this topic. You can visit it at:

Most readers will be aware that “debt solutions” are typically used to resolve problems with unsecured debts. Examples of such debts might include credit cards, bank overdrafts and payday loans. In England and Wales such solutions would include debt management plans or an IVA. In Scotland it might be a protected trust deed or the debt arrangement scheme. These solutions typically exclude secured debts for the reason that the asset (often a home where a mortgage is concerned) would be at risk if the payments weren’t made.

Ireland has experienced a mortgage crisis. The levels of mortgage arrears in Ireland run way beyond anything that has occurred in the UK. The scale of negative equity problems has also been dramatic by comparison. In response to this the Irish Government decided that one of their new debt solutions would have to include the scope to deal with debt problems connected to mortgage debt.

That solution is the personal insolvency arrangement or “PIA”. This option tackles unsecured debts but it also can be used to write-off mortgage debt or to restructure the repayment schedule affordably. In fact there is a lot of flexibility about how mortgage arrears can be tackled but in all instances a threshold of support from the mortgage lender(s) will have to be achieved. This is all explained in much greater detail at:

To qualify to enter into a PIA an applicant will have to be able to demonstrate that they’re insolvent and also that they have the capacity to contribute towards the debts that they owe. That contribution might come from surplus monthly income, from the sale of an asset, or via a combination of both. The services of a Personal Insolvency Practitioner (PIP) are required to negotiate with creditors and to handle the appropriate personal insolvency processes.

The new website that has been built also includes a debt advice forum where people can get information and expert help about personal insolvency in Ireland. The forum link is:

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