A Personal Insolvency Arrangement (PIA) is an insolvency solution for people with secured and unsecured debts, who cannot meet their repayments. Secured debt is a debt backed or secured by an asset, most commonly the family home but can also include other assets such as an investment property. Unsecured debt includes personal loans, credit card debt, credit union and other personal and commercial loans.

It is a formal agreement with creditors that will write off some of your unsecured debt and restructure any remaining secured debt, while keeping you in your home where possible.

If you are in arrears on your home mortgage you could be eligible for a free PIP consultation and Financial Review under the Abhaile Free Mortgage Arrears Support Scheme. Our team are members of the Abhaile panel. If we proceed with a PIA the PIP fee is built into this and is included in your PIA payment and there should be no additional cost. Your PIA payment is calculated after allowing for reasonable living expenses and any special circumstances you might have, such as ongoing medical costs.

In order to apply for a Personal Insolvency Arrangement you will need to contact a Personal Insolvency Practitioner (PIP) – these are a network of qualified professional advisors regulated by the Insolvency Service of Ireland to deal with Personal Insolvency Arrangements and are experts in the area of debt advice.