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Personal Insolvency

Struggling with debt and restructuring debt can be traumatic for the individuals involved, whether corporate or personal.

By coming and talking with our insolvency team, you can have peace of mind that you will receive the advice you need to make the right decisions. 

We advise on high value and complex personal debt.  Our insolvency specialists will listen to the details of your situation and advise you on the best solution for your situation, ensuring your best interests are protected.  We are confident that after instructing our firm, you will feel a weight lifted off your shoulders, knowing our team is on your side.

We advise in many high value insolvency cases and restructuring with both banks and venture capitalists.     Our firm is one of Ireland’s foremost insolvency practices and our lawyers are members of the Irish Society of Insolvency Practitioners.

What are the consequences if I cannot pay my debts?

In the past, if you could not pay your creditors, bankruptcy was your only option.  However, with the passing of the Personal Insolvency Act 2012, there are now other debt resolution mechanisms available if you cannot meet your debts and liabilities:

  • A Debt Relief Notice (DRN) – this allows for unsecured and some secured debts to be written-off up to a certain limit.  You will have to accept being supervised for three years.
  • A Debt Settlement Arrangement (DSA) – for the agreed settlement of unsecured debt, with no limit involved, normally over five years.
  • A Personal Insolvency Arrangement (PIA) – whereby an agreement can be made to settle secured debt up to €3 million (though this cap can be increased) and unlimited unsecured debt, normally over six years.

We can assist you with working out the best option for your personal insolvency by fully explaining the options and any short and long-term implications.

Why choose Lavelle Partners to advise and represent you on personal insolvency?

  • We have considerable experience in high value and complex personal insolvency.
  • We listen to our clients and understand the stress associated with personal insolvency.
  • Our advice is to the point and we will advise you on the best options to protect your interests.

What our clients say

‘The team at Lavelle Partners are among the very best when it comes to strategy. They have a wealth of experience in insolvency litigation.’

The Legal 500, 2021

‘The senior insolvency partner has very significant insolvency experience, combined with clear communications and commercial acumen makes for excellent advice.’

The Legal 500, 2021

‘Significant specialised insolvency experience and clear communications.’

The Legal 500, 2021

For further information on how we can help you with personal Insolvency matters in Ireland and the EU, please contact Lavelle Partners in confidence on (01) 644 5800.

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