• Home
  • About Us
  • Practice Areas
    • Conveyancing and Property
    • Administration of Estates / Probate
    • Family Law
    • Residential Tenancies
    • Employment law
    • Personal Injury
    • Wills
    • Debt Solutions
    • Other Services
  • Notary Public
  • Fees
  • Contact us
  • Blog
  • Links
Direct Law SolicitorsDirect Law Solicitors
Direct Law Solicitors

FOR LEGAL ADVICE CALL:
(01) 849 4226

Phone No:   (01) 849 4226
  • Home
  • About Us
  • Practice Areas
    • Conveyancing and Property
    • Administration of Estates / Probate
    • Family Law
    • Residential Tenancies
    • Employment law
    • Personal Injury
    • Wills
    • Debt Solutions
    • Other Services
  • Notary Public
  • Fees
  • Contact us
  • Blog
  • Links

Summary of New Insolvency System in Ireland

Home BlogSummary of New Insolvency System in Ireland

The Insolvency  Act will  introduce 3 new debt resolution mechanisms to help mortgage-holders and other people with unsustainable debt to reach agreements with their creditors. It will probably be July before anyone can apply for any of these.

The three proposed new mechanisms are summarised below :  Click on the links to find out more about each of them

A Debt Relief Notice (DRN) to allow for the write-off of debt (generally unsecured ) up to €20,000, subject to a 3-year supervision period

A Debt Settlement Arrangement (DSA) for the agreed settlement of unsecured debt, with no limit involved, normally over 5 years

A Personal Insolvency Arrangement (PIA) for the agreed settlement of secured debt up to €3 million (though this cap can be increased) and unsecured debt, with no limit involved, normally over 6 years

The Personal Insolvency Act will also introduce automatic discharge from bankruptcy, subject to certain conditions, after 3 years as opposed to 12 years at present.

Shane Dowling, Principal of Direct Law, is qualified to advise in Personal Insolvency. Contact Direct Law to arrange an appointment in either our Skerries or Swords office.

Contact Us

We're currently offline. Send us an email and we'll get back to you, asap.

Send Message

Contact Detail

First Floor, Unit 10,Skerries Point Shopping Centre, Skerries, Co. Dublin

Phone No: 01 849 4226
Email: info@directlaw.ie

Information

  • Home
  • About Us
  • Skerries Office
  • Contact us
  • Fees
  • Links
  • Sitemap

Services

  • Debt Solutions
  • Employment law
  • Family Law
  • Personal Injury
  • Conveyancing and Property
  • Wills
  • Other Services

Latest News

Low Cost Mortgage Switch

Low Cost Mortgage Switch

January 1, 2017

We have a set professional fee of €1,200 plus VAT and...

WILLS WEEK 2016 – EXTENDED

November 15, 2016

We have extended our offer for this year’s Wills Week...

COPYRIGHT © 2021 Direct Law. ALL RIGHTS ARE RESERVED. Privacy Policy Cookie Policy Design by:  Website Design & Development Cork

Prev Next