What you need to know about Debt Settlement Agreement

A Debt Settlement Arrangement (DSA) is an insolvency solution for people who have unsecured debts – credit cards, loans, overdrafts etc., usually over €35,000 in value. It does not include a provision for mortgage-related debt – for these please see Personal Insolvency Arrangement. If you have a mortgage which is not in arrears and you have unsecured debts, you can still enter into a DSA to deal with your unmanageable unsecured debts.

A Debt Settlement Arrangement is a formal agreement with creditors that allows for some debt write off. With this solution a person agrees to pay a percentage of their overall debt over a specified period of time. At the end of that time they will be solvent.

You work through a Personal Insolvency Practitioner to reach an agreement with your creditors on an acceptable level of payments and this is then approved by the court and becomes legally binding on all.

The length of time you are in the arrangement depends on your personal financial situation, some of our clients exit the agreement within 3 months based on a lump sum settlement, some work though for 5 years based on monthly payments.


  • Unsecured debts
  • Excludes mortgage
  • No limit on debts to include
  • Requires majority creditor approval
  • Review period from 1 month to 5 years