The notice is intended for a restricted financial situation
An Irish Debt Relief Notice concerns eligible people with low income, limited assets and qualifying debts. Application is through an Approved Intermediary, who examines the financial position. It is a different procedure from the similarly abbreviated orders used elsewhere. Before considering a new credit commitment, discuss how it would fit the conditions and obligations associated with the notice and whether the underlying need changes the assessment.
Use the intermediary to clarify changes during the process
Unexpected money, increased income or a new liability may require attention under the applicable rules. Explain the facts to the intermediary and keep the resulting guidance. MABS can help organise the household budget and explore support or creditor issues. Do not assume that relief from specified debts gives access to another loan; the terms of the notice and a future lender’s affordability assessment remain separate questions.
