Personal Insolvency Agreement As a Debt Management Solution

Seotech1219 Aug, 2021Business

In Ireland, a Personal Insolvency Arrangement (PIA) is a legislative procedure for people who are unable to return their obligations when they become due but do not want to file for bankruptcy. Under Ireland's Personal Insolvency Act, the agreement has three alternatives; another two are Debt Settlement Arrangements (DSA) and Debt Relief Notices (DRN). A Personal Insolvency Agreement (PIA) is a legal agreement negotiated and overseen by a Personal Insolvency Practitioner between a debtor and their creditors (PIP).