If you have debts of less than €35,000, a low income and few or no assets, you may apply for a Debt Relief Notice (DRN) through an approved intermediary (AI). A list of AIs can be found on the Insolvency Service of Ireland’s website here.
- The DRN could include secured debts and unsecured debts, such as credit card loans, utility bills or personal loans.
- A DRN lasts for three years – or less if half of your debts are paid off. After this time any debts that you owe will be written-off i.e. no longer due.
- You are protected while your DRN is in place and creditors, such as banks, cannot take any legal action against you.
- You can only have one DRN in your lifetime.
