INFOGRAPHIC: PIPs agree debt deals in 75% of bank talks

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.

The Insolvency Service of Ireland’s (ISI) statistics for the first quarter of 2015 show that more and more people, under the burden of huge levels of debt, are turning to that organisation to find a solution. In the first three months of this year, 525 people made an application for one of ISI’s personal insolvency schemes, including 310 who applied for a personal insolvency arrangement (PIA).