Personal Insolvency Arrangements to address mortgage debt rise 28%, report shows

Number of accounts in mortgage arrears 'remains stubbornly high', new report by the Insolvency Service of Ireland finds

There were 1,189 approved insolvency arrangements during 2024, of which 861 were Personal Insolvency Arrangements, which addresses mortgage-related debt. 

There was a 28% increase in the number of court approved Personal Insolvency Arrangements (PIAs) — the insolvency mechanism that address mortgage-related debt — during 2024, as the number of accounts in mortgage arrears “remains stubbornly high”, a new report by the Insolvency Service of Ireland has found.

The latest annual report from the ISI said there were 1,189 approved insolvency arrangements during 2024, of which 861 were PIAs — an increase from the 929 recorded in 2023, of which 671 were PIAs.