“personal insolvency arrangement”
This page presents an official legal definition of “personal insolvency arrangement” from a government source. Additional definitions will be added as jurisdictions publish them.
Ireland
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One of three debt resolution mechanisms introduced by the Personal Insolvency Act, 2012 to help mortgage-holders and others with unsustainable debt to reach agreements with their creditors. It applies to the agreed settlement and/or restructuring of secured debts up to a total of €3 million (as well as unsecured debts) over a period of six years.
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