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DSA - Debt Settlement Arrangement

A Solution for Unsecured Debts

If you have unsecured debts, such as credit card loans or personal loans, a Debt Settlement Arrangement (DSA) may be a debt solution option for you. 

  • A DSA lasts for five years – or in some cases six years.  Any outstanding debts that you owe after this time will be written-off i.e. no longer due. 
  • A DSA allows you to pay off as much of your unsecured debt as possible.
  • You are protected while your DRN is in place and creditors, such as banks, cannot take any legal action against you.
  • You can only have one DSA in your lifetime.

Personal insolvency practitioners (PIPs) are licensed by the Insolvency Service of Ireland (ISI) to make an application for a PIA on your behalf.  To discuss your options, contact an APIP member (PIP) here.

 How a PIP Will Help You to Find a Solution to Your Debt Problem

  1. The PIP will help you to complete a prescribed financial statement (PFS) outlining your financial situation.
  2. The PIP will submit your application to the Insolvency Service of Ireland (ISI) and the court. 
  3. A protective certificate will be issued by the court, which means that creditors cannot contact you about the debt.  During this time, the PIP negotiates an insolvency arrangement between you, the debtor, and the banks or other creditors.
  4. If there are no objections, the new arrangement will be approved by the court and the ISI will record it in the Register of Debt Settlement Arrangements.

The First Step to Getting Your Finances Back on Track

If you are burdened by credit card loans and/or personal loans that you cannot repay, APIP has nationwide members (PIPs) who can help you to find a solution.  To find a PIP in your area, click here.