Debt Settlement Arrangement

What is a Debt Settlement Arrangement?

The Debt Settlement Arrangement is a new debt solution available in Ireland.  Application for a Debt Settlement Arrangement can be made by an insolvent debtor (someone who cannot manage their debt repayments) who has unmanageable unsecured debts up to an unlimited amount.

Example of a Debt Settlement Arrangement or DSA

Example of a Debt Settlement Arrangement

   Find out if you can do a DSA

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With a Debt Settlement Arrangement you could

With the assistance of a Personal Insolvency Practitioner (PIP), the debtor can apply for a 'Protective Certificate' while the Debt Settlement Arrangement is being prepared. This certificate prevents creditors from taking any action for the recovery of debts, allowing the DSA to be drafted.

Under this scheme creditors are sent a Debt Settlement Arrangement proposal providing for payments to be made by the debtor for a period of five years. Creditors may agree to this but may like to extend this period for a further year.

Payments into the Debt Settlement Arrangement will generally only cover only a percentage of what is actually owed.
Once the plan is complete any remaining debt, will be legally written off.


For the Debt Settlement Arrangement to be accepted, at least 65% of voting creditors must support it. Creditors are accorded voting rights strictly in accordance with the amount of their debts.

All creditors are bound by the decision of those creditors who choose to exercise their vote.

The solution described above is one of the 3 solutions from the Personal Insolvency Bill 2012.

Read our articles about The Debt Settlement Arrangement


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