What can go wrong in a Debt Settlement Arrangement?

When you enter into a Debt Settlement Arrangement (DSA), it is not something that should be taken lightly. There are Debt Settlement Arrangements that will not run smoothly. Indeed a number of DSAs are likely to fail in the first two years of their terms, judging by the experience of insolvency practitioners supervising Individual Voluntary Arrangements or IVAs in the jurisdiction of the UK. Continue reading

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Am I eligible for a Debt Settlement Arrangement?

What is a Debt Settlement Arrangement?

Debt Settlement Arrangement or DSA is one of three completely new measures contained in the Personal Insolvency Act 2012 which was passed into law in Ireland at the end of 2012 and which is intended to offer largely non-judicial debt settlement arrangements to debtors with personal debt problems. Continue reading

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15 ways to spend your money under Irelands New Insolvency Regime

If you are insolvent and hope to avail of one of the three new debt solutions now becoming available under the Personal Insolvency Act 2012, there is considerable information on allowable personal expenditure now published by Insolvency Service of Ireland (ISI). Continue reading

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How does a PIP help me get a Debt Settlement Arrangement?

What is a PIP?

PIP is short for Personal Insolvency Practitioner who will be playing an essential role in the implementation of two of the three new insolvency measures contained in the Personal Insolvency Act 2012 which was passed into law in Ireland at the end of 2012 and which is intended to offer largely non-judicial debt settlement arrangements to debtors with personal debt problems. Continue reading

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Restrictions on Undervalue Transactions and Preferences in New Irish Insolvency Law

The Personal Insolvency Act 2012 places restrictions on certain transactions in so far as it precludes debtors who have engaged in these transactions during certain periods from availing of relief from their insolvency under the three new measures introduced in the Act. Continue reading

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Mortgage Restructuring Arrangement

A Bill was introduced in January 2013 to allow an arrangement to be agreed which would restructure the terms and/or the payment schedule of a secured debt in respect of a person’s principal private residence. Continue reading

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Insolvency Service of Ireland and its Functions

The Personal Insolvency Act 2012 which was passed into law in Ireland at the end of 2012 provides for the establishment and functions of a new independent body to be known as the Insolvency Service of Ireland. Continue reading

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Debts Allowed under New Irish Insolvency Legislation

The Personal Insolvency Act 2012 which was passed into law in Ireland at the end of 2012 will, when implemented, offer three completely new debt settlement arrangements to insolvent debtors. Continue reading

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How a debt relief notice affects creditors

What is a Debt Relief Notice?

A Debt Relief Notice is one of 3 new measures contained in The Personal Insolvency Bill 2012 which was passed into law in Ireland at the end of 2012 and which is intended to offer non-judicial debt settlement arrangements to debtors with personal debt problems. Continue reading

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Debt Relief Notice in Ireland

A Debt Relief Notice is one of three new measures contained in The Personal Insolvency Bill 2012 which was published by the Irish Government in June 2012 and which is currently making its way through the torturously slow process of the Irish legislative system. It is expected to be passed into law in December 2012 or January 2013 and to be up and running within a further few months. Continue reading

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