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Back on Track

Tackling problem debt, together

The Insolvency Service of Ireland (ISI) is an independent government organisation set up to help sort out personal debt problems and help get people back on track.


Insolvency Service of Ireland (ISI) Q1 Statistics and PIA Protocol Published

14 May 2015 - #Statistics

Momentum continues to grow – more applications, Protective Certificates and arrangements in place than in any previous quarter.

  • Agreement and publication of a Personal Insolvency Arrangement Protocol likely to lead to more successful Personal Insolvency Arrangements (PIAs).

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The ISI today published its Quarter 1 Statistical Report for 2015. The Report shows continued growth, month on month, in activity across all debt solution categories. Growth has been particularly strong since the launch of the ‘Back on Track’ information campaign last October which coincided with the waiving of application fees.

The key Q1 2015 quarterly statistics include:

  • Over 400 solutions in Q1 (101 DRNs, 43 DSAs, 129 PIAs and 162 bankruptcies)
  • 234 of 324 (72%) of the Protective Certificates issued are now for Personal Insolvency Arrangements

The statistics in aggregate show:

  • Almost 1,000 Protective Certificates issued (996)
  • Over 800 Approved Arrangements (821)
  • Over 2,000 applications (2,013)
  • 610 Bankruptcies since term reduced to 3 years
  • Cases involve debt of almost €2 billion
  • Successful outcome in 76% of proposals

In its statistical report, the ISI has included the results of:

  • an analysis of a sample of 47 cases that were rejected by creditors, and
  • an analysis of the status of family homes for those that were declared bankrupt in 2014.

The first analysis shows that creditors may face an average loss of over €100,000 per rejected arrangement.

The second analysis looks at those that were declared bankrupt in 2014. While approximately 70% of those bankrupts will not retain their home, the majority had already surrendered the family home prior to bankruptcy.

Commenting on the Statistical report, the Director of the ISI, Mr. Lorcan O’Connor stated; “The latest statistics show a continued upward trend in the uptake of services offered by the ISI, Approved Intermediaries and Personal Insolvency Practitioners. This momentum has been generated by our ‘Back on Track’ information campaign which launched in October 2014 with a new website and was complemented by town hall meetings around Ireland, along with the elimination of application fees and a set of simplified information materials”.


“Our on-going campaign has helped people to understand that help is available for anyone with unsustainable debt. Furthermore, the solutions offered by the ISI offer protection from creditors and benefit from the backing of the Irish court system, so there are no unexpected changes. It is worth noting that the ISI is the only organisation that can offer such reassurance to homeowners.”


PIA Protocol

The ISI has also confirmed the agreement with stakeholders on a PIA protocol which sets out the standards that creditors and practitioners can expect from each other. A protocol compliant arrangement uses agreed documentation, standard terms and conditions and adheres to high level principles set out within it. Having established protocols is in line with international best practice; however Ireland is the first jurisdiction to deal with secured and unsecured debt.


In order to develop protocols, a Debt Solutions Protocol Steering Group was established by the ISI and represents all stakeholders; creditors, Personal Insolvency Practitioners, consumer and debtor representatives.


The confirmation of the PIA protocol follows the previous publication of the Debt Settlement Arrangement (DSA) protocol. The two protocols will make it easier for debtors to make informed decisions when working with creditors to ultimately achieve successful debt repayment outcomes.


For Personal Insolvency Practitioners the protocols mean there is no need to develop their own terms and conditions. This reduces the amount of time spent on proposal formation and allows the practitioner to concentrate on actively working with creditors on behalf of debtors.


Anyone concerned by significant debt issues is encouraged to consult a Personal Insolvency Practitioner or an Approved Intermediary, details of which are available on or by calling 01 764 4200.


A copy of the ISI’s Q1 Statistical Report is available for download here. The ISI Personal Insolvency Arrangement (PIA) Protocol can be viewed here.