Reduce your Mortgage & other Debts with a PIA

A PIA (Personal Insolvency Arrangement) could help if you are having difficulty repaying your mortgage, or dealing with arrears, and other debts. You could:

Lower mortgage repayments to an affordable amount

Reduce your mortgage debt

Protect your home

Reduce other debts to an affordable amount

Have remaining debts written off on completion

Fill in the form to find out if a PIA could help you. We offer free, confidential, no obligation advice.



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What is a PIA?

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.

How does it work?

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.

What happens to my mortgage?

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).

What happens to my debts?

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.


Why choose National Debt Relief?


1) No upfront fees or consultation fees - Saving you time and money

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!

2) High acceptance rate

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.

3) Excellent Customer Service

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.

5) Reputation and Experience

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.

Our Philosophy

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.

Other ways we can help

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.

  • General Debt Advice

    We offer a free advice only service where we can review your financial situation and let you know of all of your options.

  • DSA

    We also offer DSAs; a Debt Solution that can help you address problems with unsecured debts.

  • Bankruptcy Advice

    If Bankruptcy is your only option, we also offer Bankruptcy Advice.

Frequently asked questions

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.

Who can do a PIA?

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.

How are PIA payments calculated?

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.

What are the advantages of a PIA?

  • 1 affordable monthly payment based on what you can afford towards your debts
  • Monthly mortgage payments reduced to an affordable amount
  • Complete protection from creditors
  • Your home is protected in a PIA
  • We do not charge upfront fees
  • Creditor pressure is eased as your creditors will have to deal with us instead of you
  • Interest and Charges are frozen on your debts
  • Any remaining unpaid debt is written off on completion

What are the disadvantages of a PIA?

  • Your credit rating will be affected during the plan and further credit cannot be obtained while on the plan
  • If you have a change in circumstances and your creditors do not agree to the amended terms, your PIA could fail
  • If you fail to make payments on time or fall into arrears your PIA could fail
  • Your PIA will be entered on a public register
  • You can only do 1 PIA in your lifetime

What debt can I include or not include in a PIA?

The types of debt that can be included in a PIA are:

  • Principal Private Residence loans
  • Investment property loans
  • Buy to let mortgages/loans
  • Personal guarantees
  • Personal loans
  • Credit Union loans
  • Business / Commercial loans
  • Credit Card loans

The types of debt that cannot be included in a PIA are:

  • Taxes, duties, levies owed or payable to the state (unless you have creditor consent)
  • Local Government charges (unless you have creditor consent)
  • Amounts due to the Health Executive under the Nursing Home Support Scheme (unless you have creditor consent)
  • Annual service charges to owner’s management companies ( Apartments and Housing estates) (unless you have creditor consent)
  • Liabilities arising under the Social Welfare Consolidation Act 2005 (unless you have creditor consent)
  • Local Authority Rates (unless you have creditor consent)
  • Household Charges (unless you have creditor consent)

  • Family Maintenance payments under court orders
  • Court fines in respect of criminal offences
  • Liabilities arising out of injury or wrongful death claims awarded by the court
  • Liabilities arising from loans obtained by fraud

What are the criteria for a PIA?

You are considered suitable for an IVA if you meet the following conditions

  • You are insolvent and unable to pay your debts in full as they fall due
  • You have debt owing to atleast 1 secured creditor.
  • Your total debts (including mortgage debt) is less than €3,000,000.
  • Your domicile must be in the Republic of Ireland or you must have, within the past year, ordinarily resided or had a place of business in the Republic of Ireland.
  • You have completed a prescribed financial statement (PFS) and signed the statutory declaration stating that it is both true and accurate.
  • You have obtained a statement from the Personal Insolvency Practitioner, that they are of the opinion that:
    1. The information in the PFS is true and accurate.
    2. You are eligible to make a proposal for a PIA; and
    3. Having considered the PFS, they are of the opinion that you will not be solvent in the next 5 years.
  • Having considered all possible options, a PIA is the best solution for you and that there is reasonable prospect that you will become solvent upon completion.

You are not eligible to seek a PIA should the following requirements apply

  • You have incurred 25% or more of your unsecured debts within the past 6 months.
  • You have been subject of a Debt Relief Notice now, or within the past 3 years.
  • You must not be the subject of a Debt Settlement Arrangement now, or within the past 5 years.
  • You have been the subject of a PIA before.
  • You are currently bankrupt, subject to a bankruptcy measure or have been discharged from Bankruptcy in the past 5 years.
  • You have been the subject of Protective Certificate issued in respect of a PIA within the last year.

What happens when my PIA is in place?

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.

How much does it cost to do a PIA?

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.