Insolvency Process Steps

Insolvency Process Steps
1. Contact the PIP Office on 0402 29376 ext.1
2. Fill in the client information pack, return to the PIP Office in 9 Court Street, Enniscorthy, Co. Wexford, together with all the requested documentation.
3. An initial meeting will be arranged.
4. Post the PIP Meeting, a letter of advices will be issued to you with an engagement pack, should you wish to proceed into Insolvency, all documents must be sent back within 3 months of your initial meeting taking place.
5. A Prescribed Financial Statement and an Application Form will be prepared, and you will be given a copy to review.
6. Once you have agreed all contents of the documents are true, you will sign a Statutory Declaration in the presence of a solicitor stating the information is correct.
7. These documents will be sent to the Insolvency Service of Ireland and from there will be sent onto Court, and we then await a court date for when a hearing will take place for An Application for a Protective Certificate.
8. At the Court hearing a Protective Certificate will be issued to the PIP.
9. The PIP Office will then contact all your creditors to tell them you are now protected under the Personal Insolvency Legislation for 70 Days.
10. All creditors must prove their debt within 14 days. A valuation of your property will re requested by your mortgage lender and this will take place within the 70 Day window of your Protective Certificate
11. A proposal is issued to your creditors and yourself to review prior to the creditors meeting.
12. Once agreed by all parties, you then have a successful Personal Insolvency Arrangement (PIA) and the Court Approves same at another court hearing.
13. The PIP Office will notify you of when the court approves your PIA and we will issue you a letter that breaks down your new mortgage payments and any payments due to your unsecured creditors.