Insolvency Service of Ireland An independent government organisation.

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Michael’s Story


In 5 years I will be debt free. There are no more phone calls, letters or worries about knocks to the door.


Background and circumstances

I worked in construction. Then it got quiet, too quiet. The work dried up and I found myself in debt of over €50,000. I started to worry about how I would get through it. One afternoon I heard about insolvency on the radio. So I went online and checked the ISI website. From there, I got in contact with a PIP.

Meeting a PIP

When I met him, I laid it all out, there was no holding back. I have to say he was great. He went through my options and talked me through the best one for me. From the start, he was sure it would work. Getting help is like winning the lotto. I had thought the pressure on my shoulders was never going to end. But the PIP made a massive difference.

Once I gave him the information it was all in his hands, it gave me a chance to step back, take a breath and recharge. My PIP had a figure of what I could afford to repay. I knew if it was passed that would be what I would have to pay for the next 5 years, which made it so much more manageable. There would be no interest added, or ever changing amounts each month. He was confident that the people I owed money to would accept it but I was on tenterhooks thinking about the difference it would make if it came off.


When I got confirmation that it was accepted, I was overjoyed. In 5 years I will be debt free. There are no more phone calls, letters or worries about knocks to the door. This is a new beginning. I would highly recommend getting in touch with a PIP. Mine was totally reliable and it was no problem meeting him at any time.

He did charge a fee but it was built into my monthly repayments which was easier. At first I found the fee thing a bit off-putting when I was already clearly struggling, but without him, I don’t think I would have ever gotten out of it. After all this is his livelihood, so I can understand why he can’t just do it for free. I still tell people it was the best money I’ve ever spent.

Is a Debt Settlement Arrangement (DSA) right for me?

If you have unsecured debt such as credit cards, loans and overdrafts, a DSA could be the right choice for you.

Help me choose the right debt solution

Actors’ voices have been used to protect the identities of the individuals involved. If you’ve been affected by any of the situations mentioned, talking to someone can help. Freephone the Samaritans on 116 123 or visit the Samaritans website.