Learn how personal insolvency in Ireland can stop repossession, protect your home, and guide you toward financial stability through PIAs and Protective Certificates.
Debt is a problem – sorting it out shouldn’t be
The sale of large loan books by banks tends to have commanded the headlines in recent years but there are tens of thousands of individual stories involved which rarely see the light of day.
These are stories of individuals who, through no fault of their own, invested in property and other assets near or at the top of the market and at a time when their income could support the borrowings involved.
The onset of the recession changed everything for them. In near perfect storm conditions many of these individuals saw their incomes fall even faster than the value of their investment assets leaving them with unsustainable debts.
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Our approach
Our model is not daunting or intimidating - we will answer your call, listen patiently and attentively, ask the right questions, and meet you at a place where you are comfortable.
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Open and accommodating
We are nationwide and can meet you at a convenient time and place. Personal insolvency can be intimidating, but understanding your solutions is crucial, and we're here to help.
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Nicholas O’Dwyer
Partner - Advisory
Why Grant Thornton
Grant Thornton’s Debt Solutions team has been helping such individuals in all parts of Ireland to resolve their difficulties through negotiated settlements with creditors. Our team can help you as we have a wealth of experience of personal insolvency gained in the UK market to bear on behalf of Irish clients.
Our approach is to work with all parties to arrive at a solution which avoids bankruptcy. Buy-to-let properties may be surrendered to the creditors involved in settlement of those debts while the mortgage on the principal private dwelling might be restructured to make it sustainable in the long term.
Such solutions benefit all parties. Debtors have the burden of unsustainable liabilities removed while creditors who are unlikely to receive anything in a bankruptcy situation receive at least a portion of the outstanding debt.
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How personal insolvency can prevent repossession of your property
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5 min read
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30 Oct 2024
Authorised personal insolvency practitioners
Nicholas O’Dwyer, Michael McAteer, Billy Murphy, Ken Gannon, Jennifer O’Brien and JP Donelon are authorised by the Insolvency Service of Ireland to carry on practice as a personal insolvency practitioner.