If you are unable to pay your debts and do not see yourself being able to do so in the next few years there are 4 debt solutions which may help you.

Which option is right for you will depend on:

• how much you owe,

• the type of debt,

• your income, and

• your assets.

Solution	Level / Type of Debt	Income	Assets	Required Intermediary
Debt Relief Notice	Under €35,000	Under €60 per month*	Max. €400**	Approved Intermediaries
Debt Settlement Arrangement	Unsecured only	No Max	No Max	Personal Insolvency Practitioner
Personal Insolvency Arrangement	Secured*** and unsecured	No Max	No Max	Personal Insolvency Practitioner
Bankruptcy	Over € 20,000 / Secured and unsecured	No Max	No Max	None****

* after Reasonable Living Expenses are deducted
** Subject to certain exemptions
*** Subject to a cap of €3 million, unless creditors consent to a higher level
****Whilst it is possible to apply for bankruptcy yourself, it is advisable to seek professional advice to assist you in the process.

If you or someone you know is struggling with debt the ISI can help - visit our debtor focussed information website backontrack.ie to find out about the debt solutions available or free text ISI to 50015 for a callback from our information line.