New Beginning welcome the latest figures released from the Insolvency Service of Ireland

New Beginning welcomes the increased number of Personal Insolvency Arrangements put in place during Quarter 3.  Personal Insolvency Arrangement are specific arrangements designed to bring a family back to a solvent position while at the same time protecting the family home.

We note 458 applications were lodged during Q3 together with 352 Protective Certificates being granted and 300 arrangements put in place.

Average debt write off in a PIA is 20% for mortgages and well over 80% for other debt. We note also that creditors are overwhelmingly supporting proposals with acceptance rates running as high as 85%. Creditors refusing these proposals can now be taken to Court where the proposal can be enforced

Ross Maguire of New Beginning said:

The system is specifically designed to get people back on track and to protect the family home. With debt write offs of over 80% people are being given a fresh start which is good for them but also good for the economy. We would encourage more and more people to avail of the system.


Contact Ross Maguire – 087 2393599

For more information contact 01-5240000 or

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