A High Court judge, in a significant decision concerning the effect of “reasonable” living expenses guidelines in Personal Insolvency Arrangements, has approved separate arrangements aimed at ensuring a couple and their four children, and a separated mother of three, remain in their homes.

Almost three quarters of people living in insolvency and who have used a personal practitioner to liaise with their creditors have managed to agree a settlement which could leave them debt free.

ONE of the most popular personal insolvency schemes, particularly for struggling homeowners, is likely to be the Personal Insolvency Arrangements (PIAs) as these include secured debt such as mortgages and unsecured debts.

It is expected that two to three hundred candidates will have entered into personal insolvency arrangements (PIA) by October, according to Michael McAteer, a partner at the consultancy firm, Grant Thornton, and a newly registered personal insolvency practitioner (PIP).