Debt Solutions

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Dealing with Problem Debt

If you are struggling with debt you are not alone

Debt problems can happen to anyone, for a variety of reasons. When you are in debt it is hard to focus on anything else. You can feel stressed and frightened about the future. But you should not be ashamed of your debt nor be tempted to bury your head in the sand – because the ISI is here to help. It is common for people not to recognise that they are insolvent; they are too busy coping with the problem and trying to make ends meet.

How do you know if you are insolvent?

The word insolvency is often associated with companies but the reality in Ireland at the moment is that many people are also insolvent. Personal insolvency is really just another term used to describe serious financial problems.

You might not realise it but you could be insolvent if:


  • You are not able to pay your bills in full when they are due.
  • You are paying a little off each bill trying to keep creditors (the people you owe money to) at bay.
  • You are reluctant to set up direct debits to pay bills in case your money cannot stretch to meet them.
  • You are receiving calls and letters from creditors about missed payments and threats of repossession.
  • You have made personal sacrifices to pay your debts.

What help is available for you?

There is a solution to every debt problem and this is where the ISI can help you and give you protection from your creditors. Every situation is different and for that reason the ISI has three debt solutions to help people struggling with debt.


For people with few assets and low income who do not have mortgage debt.

Debts under €35,000.

Dealt with by an AI (Approved Intermediary).


For people with unsecured debt such
as credit cards, loans and overdrafts.

No limit on the level of debt.

Dealt with by a PIP (Personal Insolvency


For people with secured debt such as a mortgage, and unsecured debt such as credit cards, personal loans and overdrafts.

No limit on the level of debt in the majority of instances.

Dealt with by a PIP (Personal Insolvency

Debt Settlements

If you have unsecured debt such as credit cards, loans and overdrafts, a DSA could be the right choice for you. A DSA is a formal agreement with all your creditors that will write off some of your debt.
If you have a mortgage see our booklet about PIAs. If you have debts of less than €35,000 please contact us using the form below.

Personal Insolvency

If you have secured debt (debt backed by an asset such as a mortgage) and unsecured debt (e.g. credit cards, loans and overdrafts) that you cannot repay, a PIA could be the right choice for you.

A PIA is a formal agreement with all your creditors that will write off some of your unsecured debt and restructure any remaining secured debt. A key feature of a PIA is that, in the majority of cases, a debtor will be able to remain in their home.

The Benefits


Protection from your creditors

A professional advisor will arrange the PIA for you and negotiate with your creditors on your behalf. This should put an end to any demands from your creditors for unpaid debt – no more phone calls, letters or visits.


Affordable repayments

Under the PIA you may agree to repay a percentage of your overall debts that
you can afford in one monthly payment over a given period of time.


No surprise changes

A PIA is a legally binding agreement between you and your creditors; this means that it cannot be changed without the agreement of both parties, so there will be no surprise changes such as additional interest or charges added along the way.


Peace of mind

Once your final agreed monthly repayment is made and you have kept to the terms of the agreement, your creditors will write off your remaining unsecured debt and what is left of your secured debt will be restructured.


Reasonable standard of living guaranteed

While you are making these repayments you are entitled to a reasonable standard of living. This includes food, clothing, education, health care and a modest allowance for savings. Under the ISI model, this means a higher standard than merely at a subsistence level, which people often exist on when in debt. You will not be told how you should spend your allocated reasonable living expenses, so you are still in control of your spending.

The Consultation


We believe that an initial consultation with a PIP should be a positive experience. Once you have provided your personal and financial details, we will identify your options and consider what is the optimum solution to your particular financial difficulties. At your initial consultation we will indicate how your PIA will work for both you and your creditors. Our consultations usually take up to two hours (there will be coffee).

The starting point in your PIA journey is your Prescribed Financial Statement (“PFS”). Our team will assist you complete this. Your PFS shows us and the Personal Insolvency Court your financial position at the outset of the process. Your Court approved PIA is our goal, and where we want to move you towards over a period of about 12 weeks.

 Whether yours is a single creditor mortgage arrears case, or a multi-creditor scenario involving many securities and commercial debts, we will walk you through the PIA journey we envisage for you. We will explain the numbers, your options, and why our plan to return you to solvency (while securing your family home) is the optimum outcome for you.

To allow us to prepare for your initial consultation we will need to know a lot about you. You will need to provide us with details of your assets, your debts (all of your debts… a PIA is a holistic process where no debts get left untreated), income, and any special circumstances you or your dependents may have.

What we need from you to verify your income is set out in this section. Having income verified correctly from the outset is crucial to the integrity of the process.

We can facilitate face to face meetings, but also Zoom. Microsoft Teams and WhatsApp video meetings

We're here to help

We know the first step is always the hardest…. and more text here to show that you understand the difficulties people might have and that you are there to help them through the process.

You can tell them to simply fill out the form and that a member of your expert team will be able to get in touch to provide the support they might need.

Contact our Financial Team

How Can We Help You?

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Pay for a Consultation

If you have booked in for a consultation with one of our team members you can pay for this now online. Our fee is €10. We look forward to speaking with you.