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PIA - Personal Insolvency Arrangement

A Solution for Unsecured and Secured Debts

A Personal Insolvency Arrangement (PIA) is an option for secured debts, such as mortgages, and unsecured debts, such as credit card loans or personal loans. 

  • A PIA lasts for six years – or seven years in some cases. 
  • Unsecured debts – personal/credit card loans – are settled.
  • Secured debts – mortgages – may be settled, restructured and/or written-down.
  • You are protected while your PIA is in place and creditors, such as banks, cannot take any legal action against you.
  • You can only have one PIA in your lifetime.

Personal insolvency practitioners (PIPs) are licensed by the Insolvency Service of Ireland (ISI) to make an application for a PIA on your behalf.  To discuss your options, contact an APIP member (PIP) here.

How a PIP Will Help You to Find a Solution to Your Debt Problem

  1. The PIP will help you to complete a prescribed financial statement (PFS) outlining your financial situation.
  2. The PIP will submit your application to the Insolvency Service of Ireland (ISI) and the court. 
  3. If approved, a protective certificate will be issued by the court, which means that creditors cannot contact you about the debt.  During this time, the PIP negotiates an insolvency arrangement between you, the debtor, and the banks or other creditors.
  4. If there are no objections, the new arrangement will be approved by the court and the ISI will record it in the Register of Personal Insolvency Arrangements.

The First Step to Financial Recovery

If you are in financial distress due to mortgage arrears or monthly payments that you cannot afford or if you have mounting credit card loan and/or personal loan repayments, we can help.  APIP has nationwide members (PIPs) who are helping people all over Ireland to get their finances back on track.  To find a PIP in your area, click here.