Personal Insolvency Arrangements

PERSONAL INSOLVENCY ARRANGEMENT

A Personal Insolvency Arrangement (PIA) is an insolvency solution for people with secured and unsecured debts. Secured debt is a debt backed or secured by an asset, most commonly the family home but can also include other assets such as an investment property. Unsecured debt includes personal loans, credit card debt, credit union and other personal and commercial loans.

It is a formal agreement with creditors that will write off some of your unsecured debt and restructure any remaining secured debt, while keeping you in your home where possible.

FREQUENTLY ASKED QUESTIONS
What is a Personal Insolvency Arrangement?

A Personal Insolvency Arrangement (PIA) is an insolvency solution for people with secured and unsecured debts, who cannot meet their repayments. Secured debt is a debt backed or secured by an asset, most commonly the family home but can also include other assets such as an investment property. Unsecured debt includes personal loans, credit card debt, credit union and other personal and commercial loans.

It is a formal agreement with creditors that will write off some of your unsecured debt and restructure any remaining secured debt, while keeping you in your home where possible.

Free Advice from a Personal Insolvency Practitioner

If you are in arrears on your home mortgage you could be eligible for a free PIP consultation and Financial Review under the Abhaile Free Mortgage Arrears Support Scheme. Donal Hackett is a member of the Abhaile panel. If we proceed with a PIA the PIP fee is built into this and is included in your PIA payment and there should be no additional cost. Your PIA payment is calculated after allowing for reasonable living expenses and any special circumstances you might have, such as ongoing medical costs.

How do I apply?

In order to apply for a Personal Insolvency Arrangement you will need to contact a Personal Insolvency Practitioner (PIP) – these are a network of qualified professional advisors regulated by the Insolvency Service of Ireland to deal with Personal Insolvency Arrangements and are experts in the area of debt advice.

Other

If you have any other questions please contact us.

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Donal Hackett PIP

Beck House, Kilbride Street,
Tullamore, Co. Offaly.

Eircode: R35 D4F1

Phone: 057 932 1394
E-mail: info@pisolutions.ie

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