Know all your available options

THE Insolvency Service of Ireland (ISI) was set up in March 2013 to provide debt relief mechanisms to those facing insolvency, or the inability to service their existing debts. The new service was set up under the Personal Insolvency Act 2012 and while it’s yet to formally process any applications from struggling debtors it finally opened for applications on Sept 9.

* Pre-Insolvency

For any borrower considering an arrangement under the new legislation, they must comply with certain criteria before entering the process.