If you cannot pay your debts as they fall due, you are insolvent.
Are you unable to meet your car loan, credit card loan or overdraft repayments? If you have debts of less than €35,000, no property and disposable income of less than €60 per month, a Debt Relief Notice (DRN) may be an option for you if it is unlikely that you can repay the debt within three years. If you do not meet these criteria, a Debt Settlement Arrangement or bankruptcy may be an option for you.
For debts of this nature, we refer people to the Money Advice and Budgeting Service (MABS). If you would like to discuss your financial circumstances with us, call us on +353 (0)1 436 6441.