Isi Notes On The Forms For Bankruptcy (Page 6 of 34) in pdf

Details of proposal where a Personal Insolvency Practitioner is involved

Before presenting a petition for bankruptcy, a debtor must make reasonable efforts to reach an arrangement with his or her creditors by making a proposal for a Debt Settlement Arrangement or Personal Insolvency

Arrangement. You can show that you have made reasonable efforts in one of several ways – for example, if you have entered such an arrangement and it has terminated or failed, or if you have been advised by a Personal

Insolvency Practitioner(PIP) that such an arrangement is not possible because you do not meet the statutory eligibility criteria or is not feasible in your circumstances. One of the following may apply to you, but you should

tailor the text to your own exact circumstances:

PIP - ineligible

“On [insert date] I contacted a Personal Insolvency Practitioner [insert name, address and authorisation number of PIP] by [telephone/email/letter/face to face interview]. I provided details of my financial

circumstances and other relevant information. I was informed by the Personal Insolvency Practitioner on [insert date] that I do not satisfy the eligibility criteria for a [Debt Settlement Arrangement] [and/or] [a Personal

Insolvency Arrangement] because [state reason you do not satisfy the eligibility criteria]. I beg to refer to [the letter/email from the PIP/my note of the meeting/conversation confirming this advice] upon which

marked “A” I have signed my name prior to the swearing hereof."

PIP - not feasible

circumstances and other relevant information. I was informed by the Personal Insolvency Practitioner on [insert date] that, in the Personal Insolvency Practitioner's opinion, it would not be appropriate for me to make

a proposal for a Debt Settlement Arrangement or Personal Insolvency Arrangement because [state reason]. I beg to refer to [the letter/email from the PIP/my note of the meeting/conversation confirming this advice]

upon which marked “A” I have signed my name prior to the swearing hereof."

PIP - Creditors rejection of arrangement

“Following advice from a Personal Insolvency Practitioner [insert name, address and authorisation number of PIP], a proposal for a [Debt Settlement Arrangement / Personal Insolvency Arrangement] was put to my

creditors at a meeting on [insert date]. However, the meeting rejected the proposal and accordingly the [Debt Settlement Arrangement / Personal Insolvency Arrangement] procedure came to an end. I was advised by

the Personal Insolvency Practitioner that it would not be appropriate for a person in my circumstances to instead seek a [Debt Settlement Arrangement - where the PIA procedure came to an end following the

creditors' meeting] / [Personal Insolvency Arrangement - where the DSA procedure came to an end following the creditors' meeting] because [state reason]. I beg to refer to [the letter/email from the PIP/my note of

the meeting/conversation confirming this advice] upon which marked “A” I have signed my name prior to the swearing hereof.”

Details of proposal where an Approved Intermediary is involved

In circumstances where a debtor may have been in consultation with an Approved Intermediary (AI) in MABS to consider their eligibility for a Debt Relief Notice (DRN) and where it appears that the debtor is not eligible for a

DRN, the AI will advise them in accordance with Section 27(2)(c) of the Personal Insolvency Act 2012 (as amended), “of the other option or options (if any) available to them for addressing their financial difficulties including, in

particular, becoming party to a Debt Settlement Arrangement (DSA), Personal Insolvency Arrangement (PIA) or bankruptcy, and the general effect of choosing of choosing one or more than one of these options.”

The following may apply to you, but you should tailor the text to your own exact circumstances:

AI - ineligible, not feasible

“On [insert date] I visited the Money Advice and Budgeting Service at [insert location]. I provided details of my financial circumstances and other relevant information. I was informed by [name of person], an

Approved Intermediary(AI) of MABS [insert name, address and authorisation number of AI] that while it would be desirable for me to avail of the Debt Relief Notice procedure, I was not eligible. The AI also stated

that in their view a DSA or PIA was not feasible in my circumstances. I beg to refer to [the letter/email from the AI/my note of the meeting/conversation confirming this advice] upon which marked “A” I have

signed my name prior to the swearing hereof.”

Isi Notes On The Forms For Bankruptcy Page 6

Related Articles

Related forms

Related Categories