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If you are struggling with unmanageable debt you may be eligible to have up to 70% of your debt written off.

Government legislation is now in place to help Irish people who are burdened with debt. The Personal Insolvency Act 2012 introduced new debt settlement solutions to help people in Ireland become debt free.

The Debt Settlement Arrangement, Personal Insolvency Arrangement, Debt Relief Notice and Bankruptcy are now available and you may be able to write off some or all of your debt.

Request a Free call from a Personal Insolvency Practitioner or an Independent Debt Advisor through our website today and they will be able to check if you are eligible to have up to 70% of your debt written off.

Thousands of people in Ireland are struggling with debt and we understand that being in debt can be very stressful. Speaking to a professional about your debt problem can offer you peace of mind and can put a stop to those sleepless nights as there is always a solution.

All debt problems can be solved, so if you are struggling to pay your credit cards, loans, overdraft or mortgage please do not ignore the problem, it’s vital to take action now and take control of your finances.

Lots of people are not aware that they are insolvent and are living below a reasonable living standard because of a commitment to paying off their debts.

You should be only paying what you can realistically afford towards your debts and not trying to make payments with money that is needed for your living expense

If you would like Free Debt Advice please fill in our short call back form to receive your FREE appointment, there’s no charge to speak with an Independent Debt Advisor or Personal Insolvency Practitioner and anything you discuss is kept strictly confidential.

Whatever your financial situation, whatever your circumstances, a Personal Insolvency Practitioner or Debt Advisor can work with you to help you find the best solution to clear your debts.

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Debt Help News: 70% Debt Write Off With Help Of Personal Insolvency Practitioner.


The very first Debt Settlement Arrangement was approved by creditors in Dublin on the 23rd November 2013.

It was reported that the first Debt Settlement Arrangement involved a 70% write down of debt and the debtor had unsecured debt of six figures and was unable to pay the debt when his business failed. It is understood three of Ireland’s main banks were among six creditors involved and that the collapse of a business left the individual with a residual debt he could not pay.

A Debt Settlement Arrangement is one of the three new debt solutions introduced under the Personal Insolvency Act 2012. It is designed for individuals who have no prospect of paying off all their unsecured debts in the next five years. It is a formal agreement which helps an insolvent person deal with unaffordable debt. Under this type of arrangement a percentage of the debt is paid for 5 years and the remaining debt is written off. In some cases up to 70% of the debt can be written off and unsecured debts (credit cards, loans or overdrafts) are included in a debt settlement arrangement.

The man’s Personal Insolvency Practitioner secured the debt write off deal for him. The Personal Insolvency Practitioner worked on behalf of the debtor for a few months to try and agree the right deal for the debtor and negotiated a debt write down deal of 70%.

This Debt Settlement Arrangement will see 30% of the debt paid off over the next five years and the rest of the debt believed to be 70% will be written off.

His Personal Insolvency Practitioner applied for a protective certificate while negotiating with the creditors as this gives the debtor 70 days protection from legal action. Under the new Personal Insolvency Act, when the protective certificate is issued the Personal Insolvency Practitioner has up to 70 days to work out a deal on behalf of the debtor. This Debt Settlement Arrangement was agreed a month after the protective certificate was issued by Monaghan District Court.

The Debt Settlement Arrangement agreed does not involve any mortgage debt. If the debtor was struggling with mortgage debt also then he could have applied for a Personal Insolvency Arrangement instead with the help of his Personal Insolvency Practitioner.

A Personal Insolvency Arrangement is a formal arrangement which helps an insolvent person deal with unaffordable secured and unsecured debt. Under this type of arrangement a percentage of the debt is paid for usually 6 – 7 years and the remaining debt is written off. In some cases up to 70% of the debt can be written off and secured debt (mortgages, secured loans) and unsecured debts (credit card, loans or catalogues) can be included in a Personal Insolvency Arrangement.

The 23rd of November 2013 marks a very important day in Irish history as this land mark case shows anyone burdened with unaffordable debt that there are now solutions available to help you deal with debt and unaffordable debt can be written off.

These new debt settlement solutions reduce debt repayments to affordable amounts/writes off debt that you cannot  afford to pay and creditors are agreeing to these arrangements with the help of a Personal Insolvency Practitioner.

If you are struggling to pay your credit card debt, loans or mortgage then request your Free appointment today through our website and find out for free if you qualify for up to 70% debt write off.  

Click on the call back button below or phone us on 01 4434125 to receive Free Debt Advice Today.  

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Customer Testimonial by Agnes. Co. Galway

Rory McGonnell and his team have been our rock since we started with Bright Day Finance! I don’t know what we would have done without him to sort out our finances it’s been a weight off our shoulders and we have been able to sleep better and not be so stressed knowing he’s taking care of our debts. He always contacts to make sure we are happy with everything and that if we need any more help with friends or family he is always there to listen and advice. read more customer testimonials

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Bright Day Finance is now an independent online marketing agent who acts as an introducer to independent debt advisors and authorised Personal Insolvency Practitioners. Each advisor is authorised and regulated. We are not authorised to give debt advice and we are not liable for any advice provided by or obtained through a third party. The information published on the website is for information purposes only.