1. PIA banking

2. The PIA processes  

3. Protective certificate

4. Factors Before Entering a Personal Insolvency Agreement 

PIA banking

A Personal Insolvency Agreement (PIA) releases you from the utmost of your relaxed debts once you complete your scores under the agreement. still, you may need to pay certain types of debts.  

The PIA processes  

You must make your offer for a PIA through a personal Insolvency practitioner (PIP). This is a professional who’s authorized by the Insolvency Service of Ireland (ISI) and will act on your behalf throughout the personal Insolvency Arrangement. The ISI has developed standard protocols for use by PIPs when making straightforward proffers to creditors for a PIA or a Debt agreement Arrangement. You must expose all details of your fiscal affairs to the PIP, who’ll also advise you whether or not you meet the conditions for a PIA, the consequences, any indispensable options, and the freights that you may have to pay. You must act in good faith and cooperate completely with the process. The PIP will help you complete a specified Financial Statement as part of your operation, giving full and honest information about your fiscal circumstances. You must also make a protestation that you have been unfit to agree on an indispensable prepayment arrangement with your creditor(s) or that your creditor(s) have verified in writing that they’re unintentional to enter into an indispensable prepayment arrangement in respect of your top private hearthstone. See ‘Mortgage arrears on your home’ above for specific rules about mortgage debt. You’ll have to give your written concurrence to enable  

  • The PIP to expose your data to the ISI  
  • The ISI to reuse your operation 
  • The ISI to make any necessary inquiries about you and  
  • The ISI to expose your data to the creditors concerned, as needed 

In general, you must act in good faith and cooperate completely with the process.  


The ISI has waived its freights for the 3 debt results until 31 December 2023. There’s no set scale of freights for PIPs, but they needed to specify their charges and associated costs easily before being appointed to act on your behalf.  

Protective certificate

The personal Insolvency practitioner sends your operation to the ISI. The ISI checks that all the details are in order and, if so, issues an instrument to that effect and on all to the applicable court (the Circuit Court in cases up to €2.5 million and the High Court in larger cases). The court reviews the attestation and, if all is in order, issues a defensive instrument. The ISI records the details of the defensive instrument on its Register of Protective Instruments. The PIP also notifies each of your creditors of the actuality of the defensive instrument and your intention to make an offer for a PIA. 

The defensive instrument will give you an original period of 70 days during which your creditors may not 

  • Launch or continue legal proceedings in respect of the debt  
  • Take or continue anyway to apply a judgment or contact you about the debt unless you agree to this  
  • Launch or continue ruin proceedings against you The court may extend the period of the defensive instrument by over 40 days if it’s satisfied that  
  • You and the PIP have acted in good faith and with reasonable passage, and  
  • It’s likely that, if the extension is granted, an offer for a PIA will be made that’s likely to be accepted by the creditors and completed by you 

The court may also extend the period of the defensive instrument by over 40 days, or by a further period up to 40 days, where there are exceptional circumstances or other circumstances outside your or the PIP’s control.  

A creditor may apply to the court for an order directing that the defensive instrument not apply to him or her. The court will grant this order only if satisfied that failing to give it would beget irrecoverable loss to the creditor that would not else do and that no other creditor to whom notice of the defensive instrument has been given would be unfairly poisoned.  

Factors Before Entering a personal insolvency agreement 

 Seek advice  

Fiscal counselors can help you and are available in every state and home. Their services(?) are free, independent, and non-public. They can advise about your fiscal situation and recommend a stylish option for you to deal with ungovernable debt. To speak with a free fiscal counselor (?) to communicate the National Debt(?) Helpline on 1800007007. For further information on fiscal counselors and other support services(?) see Where to find help.  

Know your options  

A PIA is just one formal option available under Insolvency(?) Act to manage your debt. Other formal options include temporary debt(?) protection for 21 days, debt(?) agreements, and ruin. There are also other options available (similar to agreeing with your creditors). For further information see What are my options for dealing with ungovernable debt?  

Understand the consequences  Entering a PIA may have a serious impact on you. It may affect your employment, and capability to get credit and will appear on a public register permanently.