Personal Insolvency, Debt, Options and Solutions – Where Do You Begin?

Personal Insolvency, Debt, Options and Solutions – Where Do You Begin?

By Sara Garland
Thursday, 11th October 2018
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The Personal Insolvency Act 2012 introduced a new system in Ireland to help people who are in debt.blog2

Over the past six years, the system has developed and improved – as has our personal insolvency and bankruptcy service here at Grant Thornton Debt Solutions. While it’s not a new phenomenon, you might not be fully aware of the industry or how you can avail of advice on debt solutions and even the words ‘personal insolvency’ might seem off-putting or unclear. Through our monthly insights, we will try to demystify the whole area of personal insolvency, equip you with basic knowledge and give you a foundation before deciding on how to tackle your own debt problem.

What is personal insolvency?

We’ll start with the basics – what is personal insolvency? In short, if you cannot pay your debts as they fall due, you are insolvent. Debts can range from car loans or credit card bills to mortgage repayments.

What are debt solution options?

In our next article, Sara Garland will discuss the debt solution options in detail and how we help people who are struggling financially to access them.

  1. Debt Relief Notice (DRN) – less than €35,000, no property and disposable income of less than €60 per month.
  2. Debt Settlement Arrangement (DSA)
  3. Personal Insolvency Arrangement (PIA)
  4. Bankruptcy

In our next article, Sara Garland will discuss the debt solution options in detail and how we help people who are struggling financially to access them.

Why Grant Thornton Debt Solutions?

There are over 100 personal insolvency practitioners (PIPs) registered in Ireland. So, who do you choose? How do you know if Grant Thornton Debt Solutions is the right choice for you?

Grant Thornton Debt Solutions is one of the largest long-standing personal insolvency practices in Ireland. We offer a free and confidential advice service nationwide. Our model is not daunting or intimidating – we are available to answer your call, to listen patiently and attentively, to ask the right questions, to assess your situation and meet you at a place where you are comfortable. We can meet you for a coffee or at one of our nationwide offices – the choice is yours. We can help you and finding a solution to your debt problem is our priority.

Contact Us

Sara Garland​ ​​i​​s a Personal Insolvency Advice Manager at Grant Thornton Debt Solutions.  The personal insolvency team at Grant Thornton Debt Solutions has a reputation for an understanding, considerate approach and will go above and beyond to get results for their clients. Between them, they travel the length and breadth of Ireland to meet and help people who are in financial distress. Contact the personal insolvency team at Grant Thornton Debt Solutions today to talk through your problem debt and receive FREE confidential advice by calling 087 766 7731.

​This article is provided for general information purposes only and does not constitute professional advice. We advise you to contact us about your specific situation and we will provide the appropriate counsel and assistance in terms of the debt solution options available.

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