These publications are in Adobe PDF format
A free Adobe Acrobat Reader can be downloaded here
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.
Back on track debtor guides
Revised detailed guides
New Sample PIA
The ISI drafted the below sample PIA and in August 2013 put it out for public consultation so as to offer stakeholders the opportunity to review it and highlight any changes or additions to the draft they considered would contribute to the smooth introduction of the new debt reliefs provided by under the Act. As a result of the consultation, the ISI has made changes to the draft and now publishes a sample PIA which shows possible content and structure of a PIA based on a specific scenario (link to scenario three on page 15).
The example sets out a sample layout and content for a PIA and is not intended to be binding. The terms and conditions will change according to the circumstances of a particular case. A personal insolvency practitioner ("PIP") is responsible for formulating a PIA and may use a different layout and text, as he or she considers appropriate to any individual insolvency case to which he or she may be appointed, subject to, and in accordance with, the requirements of the Act.
The ISI has also prepared a response document which sets out the main issues arising as a result of the consultation. Our intention in doing this is to explain the thinking behind the changes we have introduced to the document since the initial draft.
The ISI retains a medium term objective to agree a protocol involving creditors and practitioners similar to the IVA protocol that exists in the UK which has resulted in high levels of creditor acceptances. We plan to begin this initiative early in 2014.
All scenarios will be revised in due course to take into account the new legislation commenced on 29 January 2016
The above now include the two new scenarios below.