Providence Insolvency Practitioners

12 Steps towards a Debt-Free Future

1. Debtor realises they can’t meet their day-to-day cash flow needs
2. Debtor contacts creditors but the proposed solution does not resolve cash flow issues
3. Debtor contacts Personal Insolvency Practitioner (PIP)
4. PIP meets debtor to review financial status and options
5. If Debtor and PIP believe Debtor is eligible for scheme they sign a formal letter of engagement to proceed with the case
6. PIP contacts Debtor to ensure all supporting material matches details contained in Prescribed Financial Statement
7. PIP applies for Protective Certificate and, if successful, notifies all creditors
8. Notified creditors may not contact specified Debtor (aside from normal communications such as bank statements) for the 70 day Protective Certificate period.
9. Within 70 days PIP develops workable arrangement to meet legislation terms
10. Debtor and majority of creditors must approve arrangement before presenting for court approval
11. Debtor adheres to arrangement terms such as forwarding monies to PIP for distribution to creditors
12. At the end of the arrangement term, the debts are restructured/written off in accordance with pre-agreed arrangements.

How do we help people in debt crisis?

• We can help stop the phone calls and threatening letters.
• We can provide you with a solution to get you back on the road to recovery.
• We put you in control of your debt.
• We offer expert debt solution consultation.

Providence Forensic Accounting Experts Ltd.
Unit 3, Wicklow House Business Centre, Market Square, Wicklow Town, County Wicklow.
T: +353 404 61033   F: +353 404 62671   E: jevkenny@Providenceforensic.ie and for insolvency cases jevkenny@providenceinsolvency.ie

Directors: John E.V.Kenny (Irish), Johanne Delagrave Kenny (Canadian). Registered In Ireland No. 408066