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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.

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.

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 expenses.

Request a call back from us today through our website to receive Free Debt Advice from a Personal Insolvency Practitioner or a Debt Advisor.

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.

If you would like Free Debt Advice please fill in our short call back form, there’s no charge to speak with a 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.

If you would like Free Debt Advice then let us arrange a FREE appointment for you with a Debt Advisor or Personal Insolvency Practitioner who will be happy to see if you are eligible to have your debts written off.

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Debt Help News: Ireland’s First Personal Insolvency Arrangement Approved

Debt Relief Ireland

The first Personal Insolvency Arrangement was agreed in Ireland on the 25th of January 2014.

 A Personal Insolvency Arrangement is a formal debt settlement solution that helps a debtor deal with unaffordable secured debt (mortgages and secured loans) and unsecured debt (credit cards, overdrafts or loans).

This is the very first Personal Insolvency Arrangement to be formally agreed by creditors and is expected to be followed by thousands more going forward.

A Personal Insolvency Arrangement will usually involve the write down of mortgage debt which then makes a debtor’s mortgage payment more affordable and usually includes the write down of unaffordable unsecured debt (credit cards and credit union/bank loans).

It was reported that a large chunk of the couple’s debt will be written off at the end of the six year arrangement and that the couple started to struggle when their income collapsed due to the downturn and they were seeking a deal on debts up to €600,000. The majority of the seven creditors agreed to the proposal put forward by their Personal Insolvency Practitioner. The couple will make affordable payments towards the arrangement every month for 6 years as agreed until it’s completed.

Ireland is the only country at the moment that has a debt settlement solution like this that includes the write down of mortgage debts and unsecured debts together.

A Personal Insolvency Practitioner negotiated this debt settlement deal for the couple and their Personal Insolvency Practitioner will be managing their Personal Insolvency Arrangement for them until it has finishes in 6 years. A Personal Insolvency Arrangement can only be proposed by a Personal Insolvency Practitioner.

It’s brilliant to see that the Personal Insolvency Act is working well and that families/couples burdened with unmanageable mortgage debt and unsecured debt have a solution to their debt problems.

This formal arrangement will give them peace of mind and will also write off unmanageable debt and reduce their mortgage and credit card/loan payments to affordable amounts.

These Personal Insolvency Arrangements give the indebted person affordable monthly payments and protects them from legal action.

At long last we now have legislation in place where creditors are formally agreeing to write off unaffordable debt and debtors are getting formal arrangements in place with the help of a Personal Insolvency Practitioner. There is lots of help available for anyone struggling with debt in Ireland. The Personal Insolvency Act 2012 which was passed into law in Ireland at the end of 2012 introduced new debt write off solutions to help anyone struggling with unmanageable debt.

If you are struggling to pay your credit cards, loans or mortgage then contact us today on 01 4434125 and find out for free if you qualify for up to 70% debt write off.

R.McGonnell 18th September 2016

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Customer review 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

Independent Online Marketing Agent

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.