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Possible Scenarios - DRN

To help explain some of the concepts contained in the Personal Insolvency legislation, the Insolvency Service of Ireland has created some possible scenarios to illustrate how each of the three schemes may operate in respect of a debtor, Personal Insolvency Practitioner or Approved Intermediary, creditors, and the court.

It is important to emphasise that these possible scenarios are for illustrative purposes only.

They are designed to show how a particular arrangement might work in practice and assumes a pragmatic and realistic response by creditors.

The ISI does not provide financial advice.

Approved Intermediaries in the case of DRNs are available to assist debtors.


Following enactment of The Companies (Miscellaneous Provisions) Act 2013, small changes were made to the DRN document below. This latest version was issued in January 2014.  Please note that the threshold for the maximum debt eligibility limit for a Debt Relief Notice (DRN) has been increased from €20,000 to €35,000.  The DRN allows for the complete write off up debt up to that amount.

DRN Scenarios reissued January 2014 (PDF size 417KB)

 Adobe PDF (Adobe PDF Size 417KB)

 

DRN step by step example

 Adobe PDF (Adobe PDF Size 280 KB)