Personal Insolvency Arrangement

A Personal Insolvency Arrangement is for people who are insolvent but who can afford to make some repayments towards their debts after they have paid their necessary household expenses. There is no minimum or maximum limit on the amount of unsecured debt, but you must have at least one secured debt and the amount of that debt must be no more than €3 million (unless all your secured creditors agree to increase this limit). To apply for a Personal Insolvency Arrangement, you must appoint a Personal Insolvency Practitioner who will charge a fee for this service.

For more information, visit isi.gov.ie or backontrack.ie.