Insolvency Statistics Ireland 2016

Since the Insolvency Service was launched in 2013 there have been just 6800 applications for  debt relief. Made up of about 1000 DRNs  and 5000 PIAs and the rest were DSAs

Of those applications –  24.5% were from unemployed people and  63.7% were from working people. The rest were from students/ retired or housewife/househusband.

Male applicants made up 52.3% and female made up 47.7%.

The highest rate of Insolvency applications were from Co Waterford (32.6 per 10,000 adults). In second place was Co Wicklow at 21.8 per 10,000 adults.

The county with the lowest application rate was  Limerick at 5.9 per 10,000 adults.

Co Kildare had the highest rate  of Bankcruptcy applications – 7.5 per 10,000 adults – whilst Kerry had the lowest (2.2 per 10k)


A DEBT RELIEF NOTICE (DRN) PROVIDES FOR THE WRITE-OFF OF QUALIFYING DEBT UP TO €35,000 SUBJECT TO A 3 – YEAR  SUPERVISION PERIOD.

A DEBT SETTLEMENT  ARRANGEMENT (DSA) PROVIDES FOR THE AGREED SETTLEMENT OF UNSECURED DEBT WITH NO LIMITS INVOLVED OVER A PERIOD OF UP TO  5 YEARS.

A PERSONAL INSOLVENCY ARRANGEMENT (PIA)  PROVIDES FOR  THE RESTRUCTURING OR SETTLEMENT  OF SECURED DEBT
UP TO €3M AND THE SETTLEMENT OF UNSECURED DEBT OVER A PERIOD OF UP TO 6 YEARS