Personal Insolvency Arrangement

A Personal Insolvency Arrangement (or a PIA for short) is a new Insolvency Solution in Ireland. If you are a homeowner and you are struggling financially and your mortgage payments are too much, or if you have burdening unmanageable debt on credit cards, loans etc..., then a PIA might be a suitable debt solution for you.

Call us today on 1890 719 465 to find out if you qualify for a Personal Insolvency Arrangement or fill out the form below

How does a Personal Insolvency Arrangement work?

A PIA allows you to deal with secured debt (ie. mortgage debt) of up to €3,000,000, however this limit can be negotiable with creditors. The Personal Insolvency Arrangement usually lasts about 6 years.

The PIA must be approved by atleast 65% of your creditors (50% of your secured creditors and 50% of your unsecured creditors). If an agreement is reached then the Insolvency Service of Ireland will be informed and they will then transmit the arrangement to the appropriate Court.

Once the arrangement is agreed, it will be legally binding on all creditors. Interest and charges will be frozen on your unsecured debts. The mortgage lender will have agreed to one of several options outlined in the proposal for dealing with the secured debt. This could be lowering interest rates, extending the term, an equity stake in exchange for balance write off, to name a few possible scenarios.

On completion of your PIA, any remaining debt and mortgage write offs are discharged.

Find out more about a Personal Insolvency Arrangement

Unsecured Debt ?Unsecured debts are debts such as credit cards, loans, overdrafts, store cards etc... They are debts that are not secured against an asset; such as a property or vehicle.
Total unsecured debt (approximately)
Monthly repayment (unsecured debt)
Are you up to date with repayments?	Yes No
Are you making reduced payments?	Yes No
Secured Debt ?Secured debts are debts that are secured against an asset; such as a property or vehicle. These type of debts might be a mortgage or Hire Purchase.
Mortgage balance (if applicable)
Property value
Monthly mortgage payments
	Capital & Interest Interest only Reduced Payments

Are you in arrears?	Yes No
Are you on a reduced payment plan (i.e. MARP)?	Yes No
Personal Details
Your full name
Contact telephone number
Email address
Optional information
Your address line 1
Your address line 2
County
Would you like to request an information pack?	Yes No
Please provide any additional information about your enquiry

There is a condition in a PIA that after completion, if you sell your property in the future there may be a claw back on any written off amounts for the lesser of 20 years or the expiry of the mortgage term.

Personal Insolvency Arrangement

How does a Personal Insolvency Arrangement work?

Find out more about a Personal Insolvency Arrangement

Unsecured Debt ?Unsecured debts are debts such as credit cards, loans, overdrafts, store cards etc... They are debts that are not secured against an asset; such as a property or vehicle.

Secured Debt ?Secured debts are debts that are secured against an asset; such as a property or vehicle. These type of debts might be a mortgage or Hire Purchase.

Personal Details

Optional information