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Who are PIPSolutions?

PIPSolutions was established in 2013 to address the total needs of insolvent debtors following the enactment of the Personal Insolvency Act 2012-2021.

We see the insolvency process as requiring the skills possessed by accounting, legal, and mediating experts, and we can provide access to all of these services through PIP Solutions in order to solve your debt problems.


Why use PIPSolutions?

PIPSolutions is unique in that its team brings together qualified professionals such as Accountants; Solicitors and Mediators in one organisation to assist debtors with financial, legal and negotiation services. There are very few organisations in Ireland currently that provide this complete suite of services to the individual with debt problems.

PIPSolutions provides a nationwide service to ensure the debtor receives assistance of the highest quality and integrity on all debt resolution matters. The relationship with us is built on trust, respect and the assurance that your case will be considered with care and professionalism.

“Debtors who are insolvent and burdened by the enormity of their financial debt situation, require the best possible support from our very experienced multi-discipline team”

Let us find a solution to your debt situation and get a fresh start!


What is the role of the PIP?

The role of the Personal Insolvency Practitioner (PIP) is central to the Personal Insolvency Act 2012-2021. In this, it states that a debtor who wishes to enter into either of the three arrangements:

    • Debt Settlement Arrangement (DSA)
    • Personal Insolvency Arrangement (PIA)
    • Bankruptcy

must engage with a registered PIP.

The debtor must submit to a PIP a written statement disclosing all of his/her financial affairs including debts and other liabilities, assets and guarantees given by the debtor in relation to the debt of any other person and such other relevant financial information.


When does a client officially appoint a PIP?

Following a review of the financial information and any other supporting documentation, the PIP will hold a meeting with the debtor and advise him/her of the options for addressing his/her financial difficulties. The PIP will also provide information relating to the procedure and likely costs associated with any arrangement under the legislation.

It is only after this meeting that a debtor who wishes to become party to an arrangement shall appoint a PIP. It is on this appointment that the PIP shall notify the Insolvency Service of Ireland (ISI) of his or her appointment.

On receipt of the financial information, the PIP will assist the debtor in completing a prescribed financial statement (PFS).

On the completion of the PFS, the PIP shall advise the debtor of his/her options for addressing the financial difficulties and his/her eligibility to make a proposal for a Debt Settlement Arrangement, Personal Insolvency Arrangement or a Bankruptcy.

In advising the debtor, the PIP must consider the value of the debtor’s unsecured debts as compared to the value of the debtor’s secured debts and whether the debtor has communicated with his secured creditors to renegotiate or restructure the secured debts.

On receipt of an instruction, the PIP shall complete a statement confirming that he/she is of the opinion that the information contained in the debtor’s prescribed financial statement is complete and accurate and that the debtor is eligible either to make a proposal for a Debt Settlement Arrangement or a Personal Insolvency Arrangement. The PIP will also state that having considered the personal financial statement completed by the debtor that there is no prospect that the debtor will become solvent within a period of 5 years commencing on the date on which the statement is made.