A PIA is a formal agreement between you and your creditors that can help you repay your mortgage and other debts in a more affordable way, if you are struggling.
Firstly, you have a chat with one of our advisors to see if a PIA is your best option. We analyse your financial situation, including your mortgage and finances and work out what you can realistically afford to pay towards your debts and mortgage each month, after giving priority to your living expenses. With the help of our PIP's (Personal Insolvency Practitioners) we can negotiate with your mortgage lender and creditors and take you through the process of a PIA from start to finsh.
In order to reduce your monthly mortgage repayments, your mortgage lender can agree to any number of restructuring options, such as Principal Reduction (Write off), Interest Rate Reduction, Term Extension or Fixed Payments, to name a few. It will all depend on what your circumstances are. We will discuss this in depth with you.
On completion of the Personal Insolvency Arrangement (usually 72 months), any potential negative equity is written off by the mortgage lender(s).
You negotiate affordable lower monthly repayments towards your unsecured debts (credit cards, loans etc...) which usually last for the term of your Arrangement (72 months) or sometimes shorter depending on your circumstances. Interest and charges are frozen. On completion of the arrangement, any remaining unsecured debts are written off.
We are one of the only Insolvency companies that do not charge upfront fees. Paying any provider upfront fees will only cause a delay in your PIA being accepted and cost you extra money that is completely unnecessary. If your PIA is rejected you will lose this money. DO NOT PAY UPFRONT FEES EVER!
We have an amazing acceptance rate for PIAs proposed. We know any PIAs we propose will have a great chance of being accepted. We also fight very hard for every client to make sure their PIA proposal is carefully considered by the creditors. Our proposals will always be based on something that is affordable and because of this, every PIA we propose will be unique.
We have an excellent customer care team. We are a family run company and our advisors have all been with us for many years. They are highly trained and will be able to answer any question quickly and professionally. You will also find us very friendly.
Our company is part of McCambridge Duffy, a company that has been established for 80+ years. In this time we have gained a reputation for our ethical approach. We only recommend a DSA if it is your most appropriate option, and all other options will be discussed too. We are one of the best known Insolvency companies in Ireland and have already successfully helped many people deal with their debts.
At National Debt Relief we are driven by providing just that...
"Debt Relief" to people who really need it.
We believe that everyone should have access to sound advice, information and the best possible options for their situation. We pride ourselves on offering good quality, caring customer service.
Our philosophy is reflected in the feedback we receive from our many happy clients and the results in the successful plans we put forward. Read some of our testimonials below taken from our many client reviews.
We were struggling with our financial situation. From day one the staff dealt with us in a professional, caring and understanding manner. Everything was explained to us in great detail and the communication was excellent. We can now look forward, thank you. We highly recommend this company.
Sorted my Debt Problems
I contacted this company in hope of help with my massive debts and they could not be more helpful and sympathetic.
From start to finish they were in contact and helped all the way. They sorted it all out and reduced my monthly payments from nearly 700 down to 200 a month absolutely fantastic we know own have a life again. I wud recommended mccambridge duffy to anyone as they will help you without fail.
Very friendly reassuring confident personal service
Very reassuring staff whom handled my situation very professionally and made me feel very confident that I had the support I needed from start to finish. Always keeping me up to date and advising me of my options. Their service was seamless and the conclusion was as I hoped.
If you are in need of advice just call them. If its possible they will help you too.
We offer a range of serivces to help you, so if a PIA is not your best option or if you would prefer something else, we can help with that too.
We offer a free advice only service where we can review your financial situation and let you know of all of your options.
We also offer DSAs; a Debt Solution that can help you address problems with unsecured debts.
If Bankruptcy is your only option, we also offer Bankruptcy Advice.
Below are just some of the questions we are asked most often. If you have your own question that is not answered please ask by clicking on the Ask a Question button below.
You can negotiate a PIA with your creditors when you are considered insolvent. Insolvent means you are unable to pay your debts in full as of when they fall due. You can be single, married, employed, self-employed, a homeowner or a tenant...
There are certain criteria involved in order to be eligible for a PIA, such as mortgage outstanding, mortgage amount, mortgage interest, debt level and number of creditors, but we can discuss this further when we chat. If a PIA is not suitable, we can recommend other various options for you to consider.
Your payments are calculated by analysing your income and expenses on a monthly basis (not including any debt or mortgage payments). We determine how much money you have left over to go towards your mortgage and your debts. The amount of money that goes towards your mortgage and the amount of that money that goes towards your debts is entirely dependent on your mortgage situation and the amount of debt you owe and how much you can realistically afford to pay.
The types of debt that can be included in a PIA are:
The types of debt that cannot be included in a PIA are:
You are considered suitable for an IVA if you meet the following conditions
You are not eligible to seek a PIA should the following requirements apply
Your lower repayments will commence. We will assign dedicated case managers who will look after you and your PIA for it's duration. Your case manager will be there to answer any queries you might have throughout the term of the PIA. When your PIA is complete you will be discharged from any outstanding balances on your unsecured debts. You may be released from your secured debts or you may continue to pay these, depending on the terms of the agreement.
Unlike most other Insolvency providers, we do not charge for our advice and we do not charge upfront fees as we believe this to be unethical. You will never receive a bill from us.
Only if your PIA is accepted will we receive any payments for fees for managing your case. If your PIA is not accepted then you pay nothing. Our fees vary depending on your circumstances and they are built into your affordable monthly payment to your creditors. All of this is clearly explained when you chat to us. It is your creditors who determine what we get paid and we cannot draw fees without their approval.