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
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
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
- 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.
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.