Proposal
Creditors approve DSA and Court enters onto public register.
Complying
Maintenance of payments and other conditions to comply with DSA terms, and participate in regular information reviews.
Completing
Discharged from unsecured debts, and completion recorded on Register of DSAs. You are solvent again.

Debt Settlement Arrangement

A Debt Settlement Arrangement (“DSA”) only includes unsecured debts without a limit on the amount of debt. However, certain unsecured debts cannot be included and certain other unsecured debts require the consent of the creditor prior to being included. The DSA differs from a Personal Insolvency Arrangement (PIA) as it only includes unsecured debts. Unsecured debts are debts where the unsecured creditor would not be entitled to seize specific assets if the debtor fails to make repayments because that creditor does not hold security over those assets. Secured debts cannot be covered in a DSA. A DSA must be agreed by the debtor and approved at a creditor’s meeting by 65% of creditors (in value). In addition it must be processed by the ISI and approved by the Court. Under a DSA, a debtor’s unsecured debts subject to the DSA, will be settled over a period of up to 5 years (extendable to 6 years in certain circumstances). If successfully complied with, the debtor will be discharged from debts specified in the DSA at the end of the period.

Is This Service For You?

This product is intended for for customers meeting the following criteria:

  • Less than €20,000 debt

  • Unsecured debt only

  • Assets of less than €400

  • Disposable monthly income of less than €60

If your circumstances don’t match the above criteria we may still be able to help you. View our other services to find out more.

  • Debt Relief Notice

  • Debt Settlement Arrangement

  • Personal Insolvency Arrangement

Application To Court

Engage with a Personal Insolvency Practitioner (“PIP”) to seek Court issue of Protective Certificate