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    Archived pages: 180 . Archive date: 2014-10.

  • Title: DSA Ireland | Debt Settlement Arrangement Forums, Advice And Help
    Descriptive info: .. Home.. Forum.. News And Articles.. What Is A DSA?.. Eligibility.. How It Works.. Which Debts Are Covered?.. Who Can Help You.. Your Monthly Payment.. DSA Fees.. Changes In Circumstances.. Philip Gill.. Edward Walsh.. Personal Insolvency Arrangement.. Debt Relief Notice.. Bankruptcy.. Debt Management Plan.. Mortgage Arrears.. About Us.. Contact Us.. Latest Forum Posts.. Forum Post.. Author.. I would suspect the bankruptcy payment rules.. Philip Gill.. You can vary the terms of your DSA after it h.. As the forum advisor states, their is no requ.. Debtor's would usually advise me that they co.. As a debt settlement arrangement is voluntary.. Forum Adviser.. The calculation will be done in more or less.. Do you think the creditors would object if th.. Sample Question.. Will some people have a clause in their contr.. There is no automatic notication process for.. It unfortunately is a requirement of the cour.. Current Forum Topics.. Paying an upfront fee or not.. Information Needed.. Register of debt settlement arrangements.. Bankruptcy changes.. Debt Relief Notice?.. Calculation of payments.. Have to sell your house?.. pia fees.. tanya2106.. Will my employer be notified?.. Divorce pending.. Doom and gloom!.. Debt Settlement Arrangements News.. Debt Settlement Arrangement Fees.. 3rd June 2014.. Bankruptcy Delays Beginning To Build Up.. 21st May 2014.. The Stigma Associated With Bankruptcy.. 15th May 2014.. Receiving An Inheritance During Debt Settlement.. 7th May 2014.. Will The Government Change Debt Deal Rules?.. 1st May 2014.. Controversy About Debt Management Plans.. 15th April 2014.. Low Uptake Of Debt Settlement Arrangements So Far.. 8th April 2014.. Public Debt Solution Registers.. 4th March 2014.. Debt Relief Notice Used For Wedding Loan.. 25th February 2014.. Do You Need Professional Help With Your Debts?.. 19th February 2014.. Bankruptcy Or A Debt Settlement Arrangement?.. 13th February 2014.. How Do You Apply For A Debt Settlement Arrangement?.. 3rd February 2014.. Can You Include Credit Union Loans In Your DSA?.. 27th January 2014.. What Happens To Your Home With A Debt Settlement Arrangement?.. 22nd January 2014.. Protocol To Encourage Debt Settlement Arrangement Expansion.. 14th January 2014.. What Is A Debt Relief Notice?.. 7th January 2014.. Advice About Debt Settlement Arrangements.. A DSA  ...   Debt Settlement Arrangement advice forum can help in this respect.. You can ask subject experts questions about a DSA in our forum from the comfort of your home and anonymously if you wish.. This will help you to make a considered decision that will be in your long-term best interests.. Are There Other Debt Solutions In Ireland?.. A Debt Settlement Arrangement is just one of three new forms of personal insolvency help in Ireland.. In addition to a DSA you may also find it worthwhile to consider a Personal Insolvency Arrangement (PIA) or a Debt Relief Notice (DRN).. You also have the option to consider an informal debt management plan or bankruptcy depending upon your circumstances.. This website provides informational pages about each of these debt solutions.. OUR DSA forum also provides you with a platform to ask questions and get expert advice to help you to refine your options and choices.. How We Can Help You.. You can use this website in a number of different ways and on a number of different levels.. The main pages on the website are packed full with information about how Debt Settlement Arrangements in Ireland work, who can help you with personal insolvency, and how the DSA process will work if you appoint a Personal Insolvency Practitioner.. Our news and article section will bring you regularly updated information relevant to personal insolvency and debt in Ireland.. The site’s forum gives you the chance to interact online with both debt experts and others that may be experiencing similar concerns about debt.. We also provide contact forms and telephone advice lines that you can use to get in touch directly with licensed and qualified PIPs that we recommend.. They can provide you with personalised debt advice and set up a DSA or PIA for you if it’s an appropriate option.. Complaints Procedure.. |.. Credit Rating.. Forum Rules.. Terms Of Use.. Privacy Cookie Policy.. Sitemap.. www.. debt-settlement-arrangements.. ie All Rights Reserved.. (C) PJG Recovery (Ireland) Limited.. Company Registration Number: 516683.. Focus Suites, Harcourt Centre, Block 2, Harcourt Road, Dublin 2.. Please note that telephone calls may be monitored or recorded..

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  • Title: Debt Advice Forum | Debt Settlement Arrangement Forum | DSA Help - Debt Settlement Arrangement Forum
    Descriptive info: Debt Advice Forum | Debt Settlement Arrangement Forum | DSA Help.. Profile.. Register.. Active Topics.. Members.. Search.. FAQ.. Username:.. Password:.. Save Password.. Forgot your Password?.. All Forums.. Debt Settlement Arrangement.. Debt Settlement Arrangement Forum.. New Topic.. Show all topics.. Show all open topics.. Show topics from last day.. Show topics from last 2 days.. Show topics from last 5 days.. Show topics from last 7 days.. Show topics from last 14 days.. Show topics from last 30 days.. Show topics from last 60 days.. Show topics from last 120 days.. Show topics from the last year.. Page:.. 1.. 2.. of 2.. Topic.. Replies.. Read.. Last Post.. Information Needed.. 0.. 343.. 03/04/2014.. 11:37:00.. by:.. 488.. 11:33:52.. Sample Question..  ...   1452.. 08:30:39.. protective certificate not available.. 412.. 08:18:39.. Showing topics 1 - 15 of 22, sorted by.. topic title.. topic author.. number of replies.. number of views.. last post time.. in.. descending.. ascending.. order, from.. all topics.. all open topics.. the last day.. the last 2 days.. the last 5 days.. the last 7 days.. the last 14 days.. the last 30 days.. the last 60 days.. the last 90 days.. the last 120 days.. the last year.. There are 2 Pages of Topics:.. New posts since last logon.. Old Posts.. (.. 20 replies or more.. ).. Locked topic.. Jump To:.. Select Forum.. --------------------.. Frequently Asked Questions.. Member Information.. Search Page.. 2000-06 Snitz Communications.. Snitz Forums 2000.. debtadviceireland..

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  • Title: News And Articles | Debt Settlement Arrangements In Ireland
    Descriptive info: Debt Settlement Arrangements News And Articles.. Debt Settlement Arrangement Fees - 3rd June 2014.. Bankruptcy Delays Beginning To Build Up - 21st May 2014.. The Stigma Associated With Bankruptcy - 15th May 2014.. Receiving An Inheritance During Debt Settlement Arrangements - 7th May 2014.. Will The Government Change Debt Deal Rules? - 1st May 2014.. Controversy About Debt Management Plans - 15th April 2014.. Low Uptake Of Debt Settlement Arrangements So Far - 8th April 2014.. Public Debt Solution Registers - 4th March 2014.. Debt Relief Notice Used For Wedding Loan - 25th February 2014.. Do You Need Professional Help With Your Debts? - 19th February 2014.. Bankruptcy Or A Debt Settlement Arrangement? - 13th February 2014.. How Do You Apply For A Debt Settlement Arrangement? - 3rd February 2014.. Can You Include Credit  ...   Debt Deals - 17th December 2013.. Advantages And Disadvantages Of Bankruptcy - 10th December 2013.. Creditors Approve Ireland’s First Debt Settlement Arrangement - 26th November 2013.. Dublin’s First Debt Settlement Arrangements Are Underway - 20th November 2013.. Debt Management Plans Will Be Regulated - 13th November 2013.. The Debt Settlement Arrangement Is Up And Running - 23rd October 2013.. Why Don’t We Know How Many People Have Applied For A DSA? - 15th October 2013.. Bankruptcy Or A Debt Settlement Arrangement? - 4th October 2013.. Is The Personal Insolvency System As Bad As They Say? - 23rd September 2013.. Banks Set Targets To Deal With Mortgage Arrears - 18th September 2013.. Contact Us.. Your Name:.. Your Email:.. Phone Number:.. Best Time To Call:.. Anytime.. Morning.. Afternoon.. Evening.. Your Message:.. Reload Image.. Enter Above Code Here:..

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  • Title: What Is A DSA? | Irish Debt Settlement Arrangements Explained
    Descriptive info: What Are Debt Settlement Arrangements?.. The Insolvency Service of Ireland defines a DSA as enabling, … an eligible insolvent debtor to reach agreement with unsecured creditors in relation to the settlement of his or her debts where the debtor is insolvency and satisfies other statutory requirements.. A Debt Settlement Arrangement might therefore be described as a process by which an individual (who cannot afford to repay their debts on the contractual terms) comes to a formal compromise with the companies and/or individuals that they owe money to.. This compromise is negotiated and subsequently managed with the assistance of a professional third party, a.. Personal Insolvency Practitioner.. (PIP).. A DSA deals directly with unsecured debts only.. It does not create a compromise agreement with secured creditors, such as mortgage lenders for example.. However a DSA might still help to resolve some existing problems with secured lenders.. This is because repaying them will often be prioritised as part of the overall structure of the agreement.. How Does A DSA Work?.. If you feel that a Debt Settlement Arrangement might be the right answer for your financial difficulties you ll want to contact a Personal Insolvency Practitioner for further advice.. They will talk to you about your current circumstances.. This will include a.. review.. of your income, your expenditure, your debts and the assets that you own.. These facts, along with a general discussion with you about your personal priorities, will enable the PIP to tell you whether you re.. eligible for a DSA.. and whether you might also want to consider some other identified options.. If you go ahead the PIP will use the information you have provided to  ...   will not be the right choice for everyone.. Where secured debts have also become unaffordable (even if the unsecured debts were to be restructured via a DSA) a.. Personal Insolvency Arrangement (PIA).. will be worth investigating.. If your disposable income (the money that might be affordable to pay into a DSA) is relatively low.. a Debt Relief Notice.. could be a better option.. This option might apply if your spare income was calculated to be €60 per month or less.. If your creditors will not willingly agree to a PIA or DSA you may wish to consider bankruptcy instead.. The rules and restrictions regarding.. bankruptcy in Ireland.. are being relaxed, though of course this will generally remain an option of last resort for most people.. If your unsecured debts could affordably be repaid in less than five years (the usual term of a Debt Settlement Arrangement) but the contractual debt repayments are currently unaffordable, you may be able to avoid personal insolvency altogether by proceeding with.. an informal debt management plan.. instead.. Whatever your circumstances, you should find that there is a financial solution available that is appropriate to your needs.. Whether or not this solution is in fact a DSA there will be a route to deal with your financial difficulties.. Personal Insolvency Practitioners are trained and qualified to provide you with holistic advice that helps you to make an informed choice.. Choosing to contact one is the first major step in resolving debt-related financial difficulty.. Would you like to find out more about Debt Settlement Arrangements and other debt solutions that are available in Ireland? Please visit our.. DSA forum.. or.. contact us.. for further information..

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  • Title: Do You Qualify For A Debt Settlement Arrangement? | DSA Criteria
    Descriptive info: The Major Eligibility Criteria To Qualify For A DSA.. The primary requirement to qualify for Debt Settlement Arrangements is that you are insolvent.. Insolvency can be defined in several ways, however in this instance it s defined as meaning that you cannot repay your debts when they are due to be repaid.. This is established for a DSA by subtracting your reasonable and essential expenditure (excluding unsecured debt repayments) from your income.. If the amount left over after covering your living costs is an amount lower than your contractual unsecured debt repayments you will usually be considered to be insolvent.. This concept of being insolvent can cause some confusion, especially where all debt repayments are currently up to date.. This sometimes happens when unsecured debt repayments are being made in full each month but further credit is then used to cover living costs.. For example, some people may run out of cash during the month and then rely on a credit card to buy food or vehicle fuel until they are next paid.. Accordingly it is not relevant whether your debt repayments are up to date or not.. The relevant factor in the analysis is simply whether the.. analysis of your income and expenditure.. determines whether or not your full contractual debt repayments are affordable.. You will need to have at least one unsecured creditor to qualify for a DSA.. Generally you must reside in the Republic of Ireland in order to be eligible.. There may be exceptions to this rule  ...   five years, and that they believe the satisfactory completion of the DSA will render you solvent thereafter.. Factors That Might Delay Qualification For a Debt Settlement Arrangement.. You will not currently qualify for a DSA if 25% or more of your unsecured debts were borrowed within the past six months.. If this is the case you will need to cease using credit until this is no longer the case.. An informal.. debt management plan.. might provide temporary assistance to get through this period of delay.. You must not currently be in the period of a Debt Relief Notice (.. DRN.. ), a Personal Insolvency Arrangement (.. PIA.. ), or be.. currently bankrupt.. You also must not have been subject to a Protective Certificate related to a DSA in the past twelve months, subject to a DRN within the last three years, a PIA within the last five years, discharged from bankruptcy within the past five years, or ever have been in.. a Debt Settlement Arrangement.. previously.. Confirmation Of Eligibility.. If you would like to confirm that you are eligible for a DSA the best starting point is to contact a.. reputable Personal Insolvency Practitioner.. They ll work with you to analyse your current financial position.. This will equip them to provide you with advice on all of the measures that are available to you in order to deal with your debts.. If you have further questions regarding eligibility for a Debt Settlement Arrangement please visit our.. DSA forums.. for direct advice..

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  • Title: How Does A DSA Work? | Debt Settlement Arrangements Explained
    Descriptive info: Stage One – Confirm That A DSA Is Suitable And Get Protection From Creditors.. You have approached a Personal Insolvency Practitioner (PIP) for advice about your debts.. They have worked with you to compile an.. analysis of your current financial situation.. that enables them to offer you advice on how to proceed next.. The PIP provides you with information (verbally and in writing) about all of the debt options that you are eligible for and which appear to be suitable for your needs.. They have answered your questions to help you make an educated decision about how to deal with your debts.. If you decide to proceed with a Debt Settlement Arrangement you will next need to.. formally appoint the PIP.. to act for you.. They ll work with you to complete the required forms and to obtain the back-up documents that could be required.. These documents are likely to include items such as bank statements and payslips.. Once this administration stage is completed the Personal Insolvency Practitioner will reconfirm their advice to you and you can choose to instruct them to proceed with the DSA application.. If you instruct them to proceed they ll contact the Insolvency Service of Ireland (ISI) with your details.. Assuming that all is in order the ISI will forward your approved DSA application to the relevant Court.. Court approval of your Debt Settlement Arrangement application will result in the issue of a Protective Certificate.. Your PIP will advise you when this protection is in place.. Stage Two – The Preparation Of Your Debt Settlement Arrangement Proposal.. Taking into account your personal preferences, and also considering any stated preferences provided by your  ...   Three - Complying With The Arrangement.. Following the approval of the DSA you will commence making the agreed payment to your PIP.. They ll monitor and receipt of these payments.. They are subject to many rules and regulations in this respect to safeguard your contributions.. At least annually your Personal Insolvency Practitioner will contact you to undertake a review of your Debt Settlement Arrangement.. If there have been significant changes to your income or to your expenditure it s possible that the monthly payment will be varied.. Your PIP should also remain available to you in the event that your circumstances change some months outside of the usual review period.. It s important to get in touch with them promptly in the event that anything significant changes in terms of your financial position.. Stage Four - Finishing The Arrangement.. When you have met all of the terms of your arrangement your DSA will have been fully completed.. Your Personal Insolvency Practitioner should advise you, your creditors and the Insolvency Service of Ireland that this is the case.. The Register of Debt Settlement Arrangements will be updated to confirm your successful completion of the process.. At this point in time you are formally and legally discharged from any of the debts that were included in your DSA.. In most instances you should now be solvent and therefore able to look forward to a much more stable financial future.. Would you like to receive further information about exactly how a DSA works? A visit to our.. Debt Settlement Arrangement forum.. might be a useful starting point, or you could.. get in touch.. with one of our debt advisers directly..

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  • Title: What Debts Can Be Included In A Debt Settlement Arrangement? Set
    Descriptive info: Debts That Can Certainly Be Included In A Debt Settlement Arrangement.. The most common types of consumer debts can all be included in a DSA.. These include:.. Credit cards.. Store cards.. Unsecured personal loans.. Bank overdrafts.. Credit union loans.. Certain debts that are often associated with business can also be included in Debt Settlement Arrangements.. Business or commercial loans where you are personally responsible for the repayments.. Personally guaranteed debts that you have become liable to repay.. If you have any doubts whether a particular debt you have fits into the above categories a Personal Insolvency Practitioner should easily be able to tell you.. Some Debts That Might Be Included In A DSA.. There are a range of debts for which the consent of the creditor will be required in order for it to be included in a Debt Settlement Arrangement.. The following list serves to provide examples:.. Taxes, duties and levies owed (or payable to) the State.. Local government charges.. Debts owed under the Nursing Home Support Scheme (owed to the Health Service Executive).. Service charges due to owner s management companies applicable to housing estates and apartments.. Debts that exist under the Social Welfare Consolidation Act.. Rates charged by a Local Authority.. Household charges.. If you have a debt that you believe may fall into this category it would be best to discuss the matter with your Personal Insolvency Practitioner (PIP).. They ll be able to provide you  ...   types of debt cannot be included, provision may need to be made in a.. DSA.. to enable the continued repayment of them.. If you have such a debt you ll need to discuss your options with a Personal Insolvency Practitioner so that these continued liabilities can be properly understood and taken into account within any proposed Debt Settlement Arrangement proposal.. Providing Your Adviser With Full Information About Your Various Debts.. The advice that you receive about how to deal with your debts will, in part, be based upon the information that you provide about the debts to your adviser.. If they are given incorrect or incomplete details it could result in inappropriate advice, delays in setting up an arrangement, or even a failure to be able to establish such a debt plan.. Therefore taking a little time to ensure that you give the PIP (that will hopefully be handling your Debt Settlement Arrangement) accurate and complete debt details is entirely in your best interests.. This helps them to maximise the chances that your DSA (or one of the alternatives to it) has the best chance of being established promptly and successfully.. Do you have a question about whether a particular debt of yours will (or will not) be eligible to be included in a DSA? A visit to our.. Debt Settlement Arrangements forum.. getting in touch.. by contacting us directly should help you to find the answers that you need..

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  • Title: The Role of Personal Insolvency Practitioners in Ireland | PIP
    Descriptive info: Personal Insolvency Practitioners Explained.. Personal Insolvency Practitioners (who may also be referred to as a PIP ) are specially authorised to provide personal insolvency advice and solutions.. Such solutions include Personal Insolvency Arrangements (.. a PIA.. ) and Debt Settlement Arrangements (a DSA).. Typically their prior work experience and career will have been in accountancy, the legal profession or as a financial adviser.. To be allowed to work as a PIP they have to successfully complete an exam which tests their legal and practical knowledge about Irish personal insolvency.. Academic learning about personal insolvency law in Ireland isn t the only quality required to be an effective Personal Insolvency Practitioner.. They need to be able to negotiate, to make sound independent judgments about issues that aren t always straightforward, and to treat all parties to personal insolvency agreements scrupulously fairly.. The job also necessarily entails having great interpersonal and communication skills.. Compliance Requirements Placed Upon A PIP.. €1 million of professional indemnity insurance is a prerequisite of acting as a Personal Insolvency Practitioner in Ireland.. This helps to protect those people that they work with and for when setting up.. Debt Settlement Arrangements.. and other types of debt solutions.. A PIP must be thoughtful about the way that they promote the services that they offer.. For example, when advertising their DSA and PIA personal insolvency services they must be seen to act transparently, responsibly and fairly.. When actually delivering such services a PIP must utilise effective systems  ...   to have a lot of questions about these options.. Each is likely to have positive and negative points that you ll want to weigh up.. Your PIP will be able to answer your questions and help to guide you towards a solution that you are comfortable with.. Should a Debt Settlement Arrangement be your preferred option, you ll want to discuss the precise nature of the offer that you will be making with your Personal Insolvency Practitioner.. You remain very much in control at this stage, if you are unhappy with their suggestions you will not have to proceed.. Once you have agreed the terms of a DSA with your PIP it will become their job to make your creditors aware of the proposal.. They will subsequently be responsible for negotiating with your creditors if required.. Throughout the process they should keep you up to date with developments.. Assuming that your Debt Settlement Arrangement is approved the role of the Personal Insolvency Practitioner changes.. They will now be engaged in supervising the plan.. Their duties while doing this are to ensure that both you and your creditors are treated fairly in line with the original agreement.. Do you have a question about Personal Insolvency Practitioners? A visit to our.. Debt Settlement Arrangement Forums.. might help you to find the information that you need.. If you d like to speak with a Personal Insolvency Practitioner to get help with your own financial situation please contact us to.. get advice..

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  • Title: Your Monthly Payment Into A Debt Settlement Arrangement
    Descriptive info: Working Out Your Payment – Debt Settlement Arrangements.. You may have got into debt, but starting a Debt Settlement Arrangement (DSA) isn t intended to penalise you by imposing poverty upon your household for the duration of the arrangement.. A definition of a reasonable standard of living has been created by the Insolvency Service of Ireland that guides how much you will be asked to pay towards your debts.. The aim is to ensure that you and your dependents can maintain this reasonable standard of living while the debts are addressed.. Creating a definition of this standard is challenging and necessarily subjective.. Every family will have different expectations in this respect.. However a lot of work has been done to create a reasonable standard.. Core requirements include that you are able to afford to eat a nutritionally balanced diet, you can carry on participating in community life and that you have access to some leisure activities.. The aim is that you have sufficient money left available to meet a person s physical, psychological and social needs.. The Prescribed Financial Statement.. The tool used to calculate what a payment into a Debt Settlement Arrangement should be is known as the Prescribed Financial Statement.. It records details of your income, reasonable expenditure, your creditors and your assets.. Your Personal Insolvency Practitioner will complete the Prescribed Financial Statement for you with your assistance.. Your mortgage or rent payment (for your main residence) will be recorded as being as it is (the contractual monthly payment).. The same will be the case for childcare costs (provided that they are reasonable - based upon your locality).. This means that money for these important items of expenditure will be prioritised as part of your DSA.. The remainder of your expenditure will be reviewed in a different way.. A system of allowances has been created to cover all of your  ...   during the term of a Debt Settlement Arrangement.. This is the amount that it is deemed that you and your family need to spend to achieve a reasonable standard of living.. By adding together your household income and then subtracting the amount calculated that you need to cover your expenditure, you can establish if there is a surplus.. This surplus (assuming that there is one) would be the figure used for your DSA payment.. It s understood that there will be occasions where special circumstances will apply to expenditure.. If you or a member of your family has extra costs as a result of age, disability or illness let your Personal Insolvency Practitioner know as soon as possible.. They may be able to create an additional allowance (to be negotiated with your creditors) to cover these extra costs.. How Your Disposable Income Determines Whether You Qualify For A DSA.. In the event that your calculated disposable income (using the Prescribed Financial Statement) is lower than €60 each month you might be advised that.. will be more suitable than.. for your needs and circumstances.. If your calculated disposable income isn t high enough to pay your existing debt repayments, but is higher than €60, your PIP may advise you that a DSA will suit your circumstances and needs.. If your calculated disposable income would be sufficient to fully repay your debts in less than the usual term of a Debt Settlement Arrangement it s possible that you will not qualify for a DSA.. Your PIP might suggest an.. informal debt management plan or other non-insolvency options.. in such a scenario.. Would you like to find out more about the Prescribed Financial Statement and calculating how much you would be asked to pay into a DSA? You may wish to register to ask questions in our.. Debt Settlement Arrangements Forums.. or contact us directly to..

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  • Title: Debt Settlement Arrangement Fees | Cost Of A DSA In Ireland
    Descriptive info: If debt is creating problems for you it s natural to worry about having to pay fees to get debt relief via a Debt Settlement Arrangement.. In reality you don t need to be worried about this.. The way that DSA costs are charged should mean that you are only ever asked to pay over sums of money that you have already agreed are affordable for you to pay.. We explain in our Your Monthly Payment page that contributions to Debt Settlement Arrangements (and other types of personal insolvency in Ireland) are based on affordability.. You are assigned allowances to make sure that you and your family can enjoy a reasonable standard of living while addressing your debts through a DSA.. The only money that you should be asked to pay over is the amount of income that you have in excess of this (your disposable income).. You make this single monthly payment to your Personal Insolvency Practitioner.. The money that you pay to the PIP is then used for two purposes.. The first purpose is to cover their fees and  ...   Arrangement.. Your PIP should provide you with full details of their intended fee arrangements (and any other costs) in writing at the start of.. the DSA process.. It s worth taking an interest in the level of fees that your Personal Insolvency Practitioner intends to charge to manage your case.. Your creditors will take an interest in the level charges when they decide to approve (or object) to your Debt Settlement Arrangement.. If your PIP intends to charge an excessive amount in DSA costs it might therefore have negative consequences for you.. So who really pays for the cost of a Debt Settlement Arrangement in Ireland? The DSA fees will certainly be drawn from your money after it has been paid over.. However, this is money that might otherwise have been paid to your creditors.. Some people might therefore conclude that it s really your creditors rather than you that are picking up the tab for the costs of running your DSA.. To ask questions about DSA fees please visit our online.. debt forum.. or contact us to.. speak to an adviser..

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  • Title: Debt Settlement Arrangement Fees | Circumstances Change
    Descriptive info: As a Debt Settlement Arrangement runs for a period of several years it’s perfectly possible that circumstances will change during the term that it runs for.. Common examples might be redundancy, illness preventing work or separation from a partner or spouse.. More positively there could be a work promotion, the birth of a child or marriage.. During a DSA you are responsible for letting your Personal Insolvency Practitioner know about any such changes.. This is because adjustments may be required to the amount that you are being asked to pay each month.. Your monthly payment continues to be based upon.. affordability and the expenditure allowance system.. and therefore subject to review.. If there is a significant negative change in your circumstances it might become necessary to apply for a variation in the terms of your Debt Settlement Arrangement.. This will involve your PIP putting together a revised proposal that will be submitted to your creditors for their approval.. You should be involved in this process and will be asked to approve the varied terms.. The variation will be reviewed by your creditors.. They will have the opportunity to vote upon the revised proposals in the same way as occurred at the start of your DSA.. This means that 65% or more  ...   a breach of your responsibilities under the agreement.. In the most serious cases your PIP (or your creditors) could apply to the Court to have your DSA terminated for non-compliance.. If you fall into three months arrears the PIP or your creditors could apply to the Court for your DSA to be terminated.. If you were to fall into six months arrears on your Debt Settlement Arrangement payments the agreement is deemed to have failed.. In such circumstances you will be reunited with your debts (minus any sums paid towards them from the contributions that you have made) and you will no longer have legal protection from your creditors.. In most cases it will not be in the best interests of any of the parties involved for your DSA to fail.. Maintaining good communication with.. your Personal Insolvency Practitioner.. , not least if your circumstances do change, is the best way to avoid this outcome.. The PIP will typically try to be flexible in finding ways to keep the agreement in place wherever and whenever it is realistic to do so.. Are you concerned about how a change in circumstances might affect the completion of a DSA? For advice on this subject please visit our.. debt forums.. speak with a debt adviser..

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