The Personal Insolvency Act 2012, enacted in 26 December 2012, reforms Ireland’s insolvency laws, providing a modern system addressing the situation of insolvent debtors.  The Act introduced three out-of-court debt relief processes that allow the write-down or restructuring of debt owed by individuals:

  • Debt relief notices (DRNs),
  • Debt settlement arrangements (DSAs)
  • Personal insolvency arrangements (PIAs)

Debtors will need professional advice from Personal Insolvency Practitioners (PIPs) on options for addressing financial difficulties and deciding which remedy meets the Debtor’s needs:

  • Eligibility for a DSA or PIA.
  • Asset protection /Pension Protection /Future earning protection.
  • Appropriateness for proposals to banks.
  • Advice on whether or not debtor is likely to meet proposals and risk factors.
  • Bankruptcy warnings and advice.
  • Negotiating best arrangements for debtor if an arrangement is an option.
  • Negotiating a write down outside of an arrangement – if debtor has access to a lump sum.Bankruptcy laws amended.

Our Firm offers services to debtors to include:

  • Acting as PIPS or advising PIPS
  • Advising Debtors on their options
  • Advising clients on fraudulent preferences and preferences
  • Advising clients on asset protection and best financial solutions
  • Negotiating on behalf of client with your creditors

Bankruptcy- with the former 12 year automatic discharge period now cut to 3, bankruptcy can be an effective remedy including the fact, as in all debt settlement arrangements, the fees for legal advice and negotiation are provided for as part of process.


Debt Collection

The timely collection of debts is of critical importance to businesses of all sizes. Speed of recovery of the debt is the principal concern for our debt recovery unit. We are dedicated to recovering debts as quickly as possible. We deal with debt collection in the District, Circuit and High Courts at a competitive cost that is not based on a percentage of the debt recovered. We charge instead per step so that if your debt is recovered at an early stage the cost to you is an affordable fixed amount. Call today for details of our fee charging structure.

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