Debt problems can arise for anyone, at any time. A change in circumstances such as job loss, illness, relationship breakdown or even the arrival of a new family member can put significant pressure on household finances.
When this happens, it can become difficult to keep up with repayments. The stress of managing debt can quickly affect everyday life, and in some cases debts may spiral, leading to severe financial difficulty. You may find yourself unable to repay your debts, a situation known as insolvency. Missing mortgage or loan repayments can make everything feel overwhelming, but it’s important to remember that help is available.
Debt Solutions available in Ireland
In Ireland, there are formal debt solutions designed to give people a way forward through difficult financial times. These solutions can reduce pressure, provide legal protection from creditors, and in many cases, offer a fresh start.
To help you understand your options, we’ve created easy-to-follow guides explaining each solution. Below is a brief overview of the main choices, along with links to download the full guides. This will help you make an informed decision when seeking advice about your debts.
 | Debt Settlement Arrangement (DSA) A DSA is designed for people with unsecured debts such as credit cards, loans, or overdrafts. It allows you to make affordable repayments to your creditors, usually over a period of up to five years. Once completed, the remaining debt is written off. 📄 Download our DSA Guide to find out more. |
 | Personal Insolvency Arrangement (PIA) A PIA can help if you have both secured debt (like a mortgage) and unsecured debts. It gives you the chance to restructure your debts in a sustainable and affordable way, while protecting your family home where possible. 📄 Download our PIA Guide to find out more. |
 | Debt Relief Notice (DRN) A DRN is suitable for people on a low income with little or no assets and debts totalling no more than €35,000. If granted, your debts are cleared after a three-year supervision period, giving you the chance to start over. 📄 Download our DRN Guide to find out more. |
 | Bankruptcy Bankruptcy is a solution for those who cannot reasonably repay their debts. It usually lasts for one year, after which most debts are written off, allowing you a fresh start. However, it is considered a last resort option and all other insolvency solutions must have been explored before you can go down this route. 📄 Download our Bankruptcy Guide to find out more. |
Need Advice?
Choosing the right solution depends on your individual circumstances. If you’d like to discuss your situation in confidence, get in touch with our team at McCambridge Duffy. We’ll talk you through your options and help you decide on the best way forward. All advice is free and confidential.
