{"id":123,"date":"2025-05-19T09:51:14","date_gmt":"2025-05-19T09:51:14","guid":{"rendered":"https:\/\/mccambridgeduffy.ie\/articles\/?p=123"},"modified":"2025-05-19T09:51:14","modified_gmt":"2025-05-19T09:51:14","slug":"how-we-could-help-you-avoid-home-repossession","status":"publish","type":"post","link":"https:\/\/mccambridgeduffy.ie\/articles\/how-we-could-help-you-avoid-home-repossession\/","title":{"rendered":"How We Could Help You Avoid Home Repossession"},"content":{"rendered":"\n<p>Current trends show that many people in Ireland are at risk of losing their homes, as repossessions are on the rise. If you&#8217;re facing the threat of repossession, a <strong>Personal Insolvency Practitioner (PIP) <\/strong>can play a crucial role in helping you find a viable solution to avoid losing your home.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">What is causing the increase in repossessions?<\/h2>\n\n\n\n<p>Several economic factors are contributing to the rise in home repossessions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Inflation<\/strong><\/li>\n\n\n\n<li><strong>The rising cost of living<\/strong><\/li>\n\n\n\n<li><strong>Aggressive actions of vulture funds<\/strong><\/li>\n\n\n\n<li><strong>High mortgage interest rates<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Any one of these can lead to missed mortgage payments. When arrears build up, it becomes harder to catch up, often resulting in legal threats from lenders and potential repossession.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How can a PIP help?<\/h2>\n\n\n\n<p>A PIP is a licensed professional who assists people struggling with unmanageable debt (also known as insolvency). <a href=\"https:\/\/www.mccambridgeduffy.ie\/pip.html\" target=\"_blank\" rel=\"noreferrer noopener\">A PIP can help you explore insolvency solutions<\/a> tailored to your situation. These solutions <strong>cannot<\/strong> be pursued without the involvement of a PIP.<\/p>\n\n\n\n<p>Here\u2019s how the process works when you contact us:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Assessing your financial situation<br><\/strong>We\u2019ll review your debt type and level, income, expenses, and overall financial circumstances. This helps us determine whether you are insolvent and what you can realistically afford to repay.<\/li>\n\n\n\n<li><strong>Explaining your options<br><\/strong>We will walk you through all available options clearly and thoroughly, allowing you to make an informed decision that suits your needs.<\/li>\n\n\n\n<li><strong>Setting up your chosen solution<\/strong><br>If you decide to proceed, we\u2019ll gather the required documentation, and your PIP will begin drafting your proposal. During this time, we will apply to the court for a Protective Certificate (PC), which protects you from legal action while your arrangement is being negotiated.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\">What solution can prevent repossession?<\/h2>\n\n\n\n<p>The solution that can help save your home is called a <strong>Personal Insolvency Arrangement (PIA)<\/strong>. A PIA restructures your debts into affordable payments, allowing you to retain your home while resolving financial difficulties over a typical period of up to six years (though it can be shorter).<\/p>\n\n\n\n<p>Your PIP will negotiate with creditors to propose a fair and realistic repayment plan that also allows for a reasonable standard of living.<\/p>\n\n\n\n<p>Here are some of the ways a PIA can restructure your debt:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Extend your mortgage term<\/li>\n\n\n\n<li>Reduce the outstanding mortgage balance<\/li>\n\n\n\n<li>Lower monthly payments<\/li>\n\n\n\n<li>Reduce interest rates<\/li>\n\n\n\n<li>Write off or reduce unsecured debts<\/li>\n<\/ul>\n\n\n\n<p>Your PIP will manage the PIA throughout its duration, handling reviews, reports, and any queries. Upon successful completion, you\u2019ll be solvent and able to move forward with a clean financial slate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How can I afford a PIP?<\/h2>\n\n\n\n<p>If you&#8217;re applying for a PIA or facing serious mortgage arrears, you may qualify for a <strong>voucher under the Abhaile Scheme<\/strong>, which provides <strong>free financial and legal advice<\/strong>, including PIP services. We are an approved provider under this scheme, so don\u2019t hesitate to reach out.<\/p>\n\n\n\n<p>Additionally, <strong>all initial advice from McCambridge Duffy is completely free<\/strong>. We do not charge any upfront fees. If you proceed with a PIA, our fees are only paid if the proposal is accepted by your creditors. These fees are deducted from the affordable repayments you make to creditors. <strong>You will never receive a separate bill from us<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final word<\/h2>\n\n\n\n<p>If you\u2019re concerned about repossession, mortgage arrears, or unaffordable debts, speaking with a PIP could be the first step towards financial stability and peace of mind. Complete one of our our <a href=\"https:\/\/www.mccambridgeduffy.ie\/contact-us.html#contact-us\" target=\"_blank\" rel=\"noreferrer noopener\">contact forms<\/a> on our website for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Current trends show that many people in Ireland are at risk of losing their homes, as repossessions are on the rise. If you&#8217;re facing the threat of repossession, a Personal Insolvency Practitioner (PIP) can play a crucial role in helping you find a viable solution to avoid losing your home.<\/p>\n","protected":false},"author":1,"featured_media":126,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[33,32,12,34,23],"class_list":["post-123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-articles","tag-abhaile-scheme","tag-avoid-repossession","tag-personal-insolvency","tag-personal-insolvency-practitioner","tag-repossession"],"_links":{"self":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/comments?post=123"}],"version-history":[{"count":2,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/123\/revisions"}],"predecessor-version":[{"id":125,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/123\/revisions\/125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media\/126"}],"wp:attachment":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media?parent=123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/categories?post=123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/tags?post=123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}