Breaking up is hard\u2014emotionally, mentally, and often financially.<\/p>\n\n\n\n
A relationship ending can bring unexpected financial strain, from managing bills alone to adjusting to a reduced household income. For some, it may also mean being responsible for payments towards a joint mortgage on their own, which can feel overwhelming.<\/p>\n\n\n\n\n\n\n\n
If you\u2019re in this situation and finding that your household income no longer covers your expenses, please know that support is available. Over the years, we have helped many people with their financial difficulties after a separation. They successfully managed to keep their home, deal with arrears and debts and regain financial control over unaffordable payments. The first step they took was contacting us for advice.<\/p>\n\n\n\n
We offer advice and solutions that can help you bring your finances in line with what\u2019s realistic and affordable for you. These solutions were created by the Insolvency Service of Ireland (ISI) with a view to helping people deal with unaffordable debt. Below is a brief overview of some of the solutions available to help deal with unaffordable debts:<\/p>\n\n\n\n
A PIA is a formal debt solution that can help you protect your home, by dealing with any unaffordable mortgage arrears and debt by way of a restructure or write down, to achieve a tailored affordable plan going forward.<\/p>\n\n\n\n
A DSA<\/a> is a Formal Solution that can deal with unaffordable unsecured debts, such as credit cards, loans, overdrafts etc… It works in a similar way to a PIA in that payments are reduced to an affordable amount for a set period of time. On successful completion, any remaining debts are written off, allowing you to start over again.<\/p>\n\n\n\n A Debt Relief Notice is a Formal Solution designed to help people who cannot afford to repay their debts, are on a low income and have little to no assets. It is sometimes considered as a form of ‘mini bankruptcy’.<\/p>\n\n\n\n Bankruptcy is a formal insolvency procedure that deals with unaffordable debt. It is usually considered as a last resort debt solution, because you must explore all other insolvency options before you can go down the Bankruptcy route. Breaking up is hard\u2014emotionally, mentally, and often financially. A relationship ending can bring unexpected financial strain, from managing bills alone to adjusting to a reduced household income. For some, it may also mean being responsible for payments towards a joint mortgage on their own, which can feel overwhelming.<\/p>\n","protected":false},"author":1,"featured_media":103,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[21,17,19],"class_list":["post-95","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-articles","tag-debt","tag-financial-difficulty","tag-split"],"_links":{"self":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/95","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=95"}],"version-history":[{"count":3,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/95\/revisions"}],"predecessor-version":[{"id":111,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/posts\/95\/revisions\/111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media\/103"}],"wp:attachment":[{"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/media?parent=95"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/categories?post=95"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mccambridgeduffy.ie\/articles\/wp-json\/wp\/v2\/tags?post=95"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Debt Relief Notice (DRN)<\/h2>\n\n\n\n
Bankruptcy<\/h2>\n\n\n\n
For more details on these solutions or to find out how we can assist you, visit the Personal Insolvency<\/a> section on our website.
Speak with one of our friendly, knowledgeable advisors, who will provide free, no-obligation advice on how you can regain control over your financial challenges.
You don\u2019t have to navigate financial difficulties alone. Every Financial Problem has a Solution.<\/p>\n","protected":false},"excerpt":{"rendered":"