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Personal Insolvency Consultation

The starting point in your PIA journey is your Prescribed Financial Statement (“PFS”). Our team will assist you complete this. Your PFS shows us and the Personal Insolvency Court your financial position at the outset of the process. Your Court approved PIA is our goal, and where we want to move you towards over a period of about 12 weeks.

Whether yours is a single creditor mortgage arrears case, or a multi-creditor scenario involving many securities and commercial debts, we will walk you through the PIA journey we envisage for you. We will explain the numbers, your options, and why our plan to return you to solvency (while securing your family home) is the optimum outcome for you.

To allow us to prepare for your initial consultation we will need to know a lot about you. You will need to provide us with details of your assets, your debts (all of your debts… a PIA is a holistic process where no debts get left untreated), income, and any special circumstances you or your dependents may have.

What we need from you to verify your income is set out in this section. Having income verified correctly from the outset is crucial to the integrity of the process.

To take the first step in the PIA process, please fill in the basic personal details requested in the form on the next page. Within minutes you will receive an email from us explaining more about us and what we need from you.

The ball is now in your court. As soon as we receive your information we will start the process of assessing your case. We will call you within 3 working days to arrange an appointment to meet with us face to face. We can facilitate face to face meetings by video call using Zoom, Google Hangouts, Google Duo, WhatsApp Video Call, or Skype.

Income Verification Required

The PIA and DSA protocol principles dictate we must verify income for employees and self-employed people in the following manner:

For an Employee we require the following

• Most recent P60 along with last 3 pay slips or, where the Debtor(s) is in receipt of Social Welfare, the latest P60 (if recently unemployed), nature of benefit, evidence of payments and the associated timelines e.g. long term, expiry date etc.
• Where a person is paid weekly it is sufficient to check a selection of pay slips to cover the 3 month period though this should not be less than 3-months pay slips.
• In the absence of pay slips (e.g. if they have been lost), income should be verified by reference to bank statements.

For a Self-Employed Debtor we require the following

• Most recent audited / certified accounts and management accounts for year to date – where management accounts are not signed off by qualified accountant then ‘year to date’ bank statements and / or latest VAT returns may be sought.
• The financial / management accounts for at least one year, or more if appropriate.
• Copies of Revenue income tax returns for last two years.
• A cash flow projection of at least one year, or more if appropriate.

Please note that a consultation with one of our PIPs cannot be facilitated before we have received the relevant income verification documentation.