Personal Insolvency Arrangment (PIA)
The qualifying conditions to apply for a Personal Insolvency Arrangement (PIA) are:
What happens to a Principle Private Residence in a PIA?
When drawing up a PIA it cannot contain a requirement for the debtor to sell the principle private residence unless:
 A claw back is limited to a maximum of 50% of any win fall gain or 50% of any increase in income during the time of the PIA. See section 7.m below.
Debt Settlement Arrangement (DSA)
Qualifying conditions for a Debt Settlement Arrangement (DSA)
In order for a debtor to be able to apply for a DSA they must fulfil the following conditions:
The DSA will usually apply to people who have income and assets but just not enough! They are not able to service their unsecured debts from their current income.
They can seek protection from their creditors while at the same time protecting their secured assets such as their family home.
Full details are explained in our Insolvency Guide which is free to download here