To get a Debt Settlement Arrangement or a Personal Insolvency Arrangement, you must apply through a Personal Insolvency Practitioner (PIP).
The Insolvency Service of Ireland will be responsible for licensing Personal Insolvency Practitioners.
The Jstice Minister has said that the ” Insolvency Service will not impose any particular restrictions on the type of professions of persons who will be licensed to be a PIP.”
The Insolvency Service will set up and maintain a Register of Personal Insolvency Practitioners.
Personal Insolvency Practitioners will need to have a policy of professional indemnity insurance .
In other countries such as the UK or US insolvency practitioners tend to be accountants or lawyers, but can also be other professionals in the broad financial services sectors. In the UK – one of the main requirements is that individuals must pass an examination – the Joint Insolvency Examination .