A personal insolvency arrangement (“PIA”) is a Court approved legal agreement used to resolve debt. It covers mortgage arrears, residual debts, credit cards and all unsustainable secured and unsecured debts. It requires debtors to pay as much as they can afford, with the unsustainable debt being written off. The process starts and ends with an application to the Circuit or High Court and is fully binding on all creditors.  A significant, but barely reported, publication by the Free Legal Advice Centres (FLAC), “From Pillar to Post”, this month set out;  “recent research from the CBI [Central Bank of Ireland] which…

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