Bankruptcy may be an insolvency solution for you if your debt is over €20,000.
May be an option for you if it is unlikely that you can repay your debt within 3 years.
A facility where part of the debt is written off and part of it is repaid during a time period.
A Personal Insolvency Arrangement (PIA) covers both secured and unsecured debts.
Debt Relief Notice
Criteria
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.
Advice
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.
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