ISI Q3 2018 statistics show 60% increase in debtors returning to solvency while keeping homes
The Insolvency Service of Ireland (ISI) is an independent statutory body that was established on March 1, 2013 to “restore insolvent persons to solvency”. In short, if you cannot pay your debts as they fall due, you are insolvent. The ISI publishes statistical reports every quarter detailing the amount of debt solution options availed of, the outcomes achieved and applicant profiles. The ISI recently published its Quarter 3 2018 statistical report.
The report reveals that during quarter three of 2018, there were 771 new applications for debt solution options, 418 protective certificates issued, 305 arrangements approved and 64 bankruptcies declared. There is a 60% increase in the number of debtors securing Personal Insolvency Arrangements (PIAs) since last year. A PIA is the solution that helps debtors to return to solvency without losing their homes, in most cases. This is a significant statistic as it shows debtors that they are not alone, there is help available and people can overcome their debt problems without facing home repossession with the right help.
The first step is often the hardest, but by contacting us you are going in the right direction towards managing your debt for the future. We help people who are insolvent and finding the best solution to your debt problem is our priority.
To find out more about our free and confidential nationwide debt advice service contact us at by calling 087 766 7731, request a callback here, or submit your query through instant chat.
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