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Grand - just wanted to make sure you fully understood what you were paying for!

Archie, offer them absolutely nothing individually. It is very possible to make an offer on a pro-rata basis across the board to all creditors at once. You also do not need to go down the route of an insolvency practitioner - although you may require a DRN later on through MABS if an awkward...

I think you need to clarify what you have been told by the debt management company - €49.50 a month for 7 years?? That's less than a quarter of the debt paid off! Are you sure it's not €330 per month? You could not get a DRN because your debts are over 20k as well. A DSA is likely to work for...

The CB has not established any rules for the regulation of debt management companies. They are using the EU Payment Services Directive (PSD)to impose some sort of regulation, but PSD is completely inappropriate and is not fit for purpose. The CB wants a cash bond from DMCs of up to €120,000 to...

If you're being charged an upfront fee, you should shop around. We wont be charging an initial consultation fee, and similarly we wont be putting people forward for a DSA that we do not believe will be accepted. If you are being charged up front, it says a lot about the confidence and ability...

Thanks Sumatra, but I think a number of potential PIPs are looking for the 'big fish'. They do not want to fully commit, and will go where they think the money is. From a number of conversations with accountants and solicitors, the so called 'big fish' is where they cherry pick who they will...

If the question is not asked, it will not be answered. Ask for the sale of the property in full and final settlement of the debt. But get the agreement. I'm aware of many situations where it was advised by the person's solicitor to sell, and then deal with the aftermath later, hoping statute...

It would be, and where possible that should be done, however the problem is that credit ratings are already in bits, or they simply do not have access to the money to settle. Sometimes family members will make funds available if the settlement figure is affordable for them, but circumstances are...

It's the same situation as I posted on another thread re MBNA/Avant takeover. People with arrangements in place, which we have organised, are now getting letters saying they missed their last (minimum) payment, even though the cards have long since been written off/cancelled. Looks as though we...

Hi Mr Earl, We have just recently bought out our UK shareholders, and the website is in the process of getting updated, but under EU passporting rules our UK based licenced IP should be allowed to operate here, and will be acting as a PIP. It was only last week that provisions for licencing...

In recent weeks, the media and politicians have been highlighting the criteria of acceptable living expenses under the new Personal Insolvency Act. Reports suggest a person may be required to quit their job in order to reduce expenditure on childcare, they may have to surrender their car...

It does Bronte, but if you had a repayment arrangement in place, they will usually reset the arrangement. It's a process of passing paperwork. @Mullto, First Citizen are an internal agency of HBOS, usually dealing with HP debts, but they are new so more could follow PS Have never heard of...

I heard the tail end of the interview. If he's saying that PIPs cannot advise on bankruptcy, he is 100% wrong. It is the responsibility of the PIP to advise their client of all potential solutions/outcomes. Not to do so would be negligent, and if a PIP doesn't know about bankruptcy, they should...

I received a new quote today, solely based on insolvency work of €1900. It's looking highly unlikely that a client account will be the way forward, an approach similar to liquidation accounts looks to be the practise. @Sumatra - Business will be slow enough to begin with, and expect high...

I can tell you for a fact that the entire handover from MBNA to Avant has been a mess. I have clients, who have had interest frozen, been on repayment arrangements, etc, who are now receiving letters saying they missed their last minimum payment. It's been years since they met that repayment. If...

There's a lot more to it. The scheme is in place, and yes, it is available to single people as long as the property is fit for purpose, eg a single person in a 4-bed house would not qualify. Summary of the scheme is [broken link removed]. While the costs may well increase, the scheme is limited...

Thanks Brendan, I have sent this through to various TDs involved, and have been informed that it is being considered. I'm looking for the thoughts of the users of the site to see if anyone else has additional recommendations that could be made. It's at report stage now, so time is limited, and...

The Personal Insolvency Bill has now passed Committee stage in the Dail. There is still time for amendments to be made to the Bill before it is enacted, and we have examined some of the changes that are essential to make the Bill work for those who need it most. Below are some of the...

The Debt relief cert will be fairly straight forward. Also as far as fees are concerned, the approved intermediary will NOT be allowed to charge the applicant a fee, it's in the bill. Any fees applicable to an intermediary would be payable from the fee nominated by the Insolvency Service to...

wrong forum!