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Hi Alan Do you know does this refer only to property that is sold? Or does the bankruptcy assignee monitor the value of the property on an ongoing basis even if the property is not put up for sale?

I appreciate you've said you will add nothing further but do you know if there would be would be a further 3 year Income Payment order from the point of going bankrupt irrespective of how many years were already spent in the PIA arrangement? It's the key issue in all this.

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"The Personal Insolvency Practitioner believes that the debtor is unable to pay his/her debts as they fall due and the debtor’s inability to meet his/her engagements cannot be more appropriately dealt with by means of a Debt Relief Notice Process, Debt Settlement Arrangement or a Personal...

Nope. I just want the legislation implemented as it was intended. And you are agreeing with who exactly? The law is the law. If it's abused it will be changed. Until then, with respect, it's not for you to decide how many should get to avail of it. Do you believe you are correctly grasping...

Given a choice between amputating a cancerous arm (with a guarantee of recovery) or undergoing treatment which if unsuccessful means you lose all your limbs ,which would you choose? Such is the choice between bankruptcy and PIA. A surgeon can explain the pros and cons of each but ultimately it...

I am very well aware that it is the way the law is written but you are utterly abusing the spirit of the law in interpreting it the way you are. As a PIP you know very well that the original point of the insolvency legislation was to provide potential bankrupts with a better solution. From...

I'm not sure why you are inserting this straw man into the debate. No one is arguing otherwise. This statement is utterly bogus! Having surplus income has never been a disqualifier for bankruptcy and is provided for in the bankruptcy legislation. 85D.— (1) The Court may,... make an order...

No offence intended Breakonthru but your points don't quite address the issues I'm trying to address on this thread. The main point of the thread was the unfairness/inadequacy/failings of the Insolvency Service protocols.(see post #7) The fact that no PIP has yet been able to give a straight...

Bronte PIPs are the arbiters when it comes to deciding whether or not a PIA should be pursued. Since the PIPs are the the very people who make money from PIAs is it not a ludicrous conflict of interest that they get power of veto in these matters?

Jim With respect neither you nor anyone else has yet provided answers to these questions. Was not the original purpose of the Personal Insolvency Act to provide a better alternative for people who were facing bankruptcy? Have there been instances where PIPs blocked a debtor from going bankrupt...

TLO. Thanks for the advice but I think you are missing my point. The legislation was not written with a view to forcing people in difficulty into even worse difficulty. That was not its purpose. Was not the original purpose of the Personal Insolvency Act to provide a better alternative for...

And what if I want to go bankrupt and the PIP refuses to sanction it and says a PIA would be a more "suitable" option? What option is left to me then? Is this not the same as being forced to do it? So after 4 years a PIA might fail and you're back to square one. Why should anyone be forced...

In another thread on here Brendan Burgess urges a poster to go bankrupt as soon as possible "before business picks up and the PIP starts investigating a PIA." This is a crazy state of affairs! In its current guise a PIA can fail through no fault on the part of the debtor. (e.g in the event of...

Thanks Jim. Notwithstanding the example you give above I think it's not unreasonable to assume that the average person who wishes to go bankrupt will have considered the negative implications and will have done all the maths. I wonder if the naive (if we're being honest) individual you mention...

Jim I appreciate you taking time to reply but with respect you are not addressing the points I am making. My understanding is that bankruptcies provide certainty not afforded by PIAs/DSAs. Is this not the case? You have said above that you refused letters to people in the past. Can you give an...

Jim Prior to this I had always considered bankruptcy to be rock bottom. I'd really appreciate some example of a scenario wherein a person will probably not be allowed avail of the process.

Why is it that the rules on PIAs DSAs etc were not eased in line with the changes to bankruptcy duration and the duration of income payment orders? A PIA is not nearly as attractive now as when the rules were originally drawn up. The restriction on bankruptcy applications whereby PIPs can...

Jim The idea of "achieving" a DNA/PIA for debtors seems like a contradiction in terms given that the process seems stacked in favour of banks/creditors. Surely there is some sort of moral obligation not to deny people the opportunity to wipe the slate and make a fresh, stress-free start. A...

Jim/TLO Assuming a hypothetical situation whereby the applicant cannot get a PIP to provide a letter, the applicant is then "forced" to avail of a PIA? A bankruptcy is not something most people would enter into lightly but it at least provides certainty to the individual. A PIA on the other hand...