The Certificate in Personal Insolvency Practice aims to give you an in-depth knowledge of insolvency law in Ireland, to act for and advise debtors in personal insolvency procedure if authorised as a personal insolvency practitioner by the ISI.
The Personal Insolvency Act 2012 constitutes a major shift in Irish policy relating to insolvency and implements a new scheme to ameliorate the difficulties suffered by debtors in discharging their indebtedness. This certificate programme, delivered by City Colleges, provides participants with the skills and knowledge necessary to meet one of the criterion to apply to the Insolvency Service of Ireland to become personal insolvency practitioners.
Recognised by The Institute of Banking and LIA for CPD Purposes
Certificate in Personal Insolvency Practice Course Overview
On completion of the course, the learner will be equipped with an in-depth knowledge of insolvency law in Ireland which will enable them, if authorised by the ISI, to act as a Personal Insolvency Practitioner (PIP) and advise debtors on statutory debt solutions.
The course has been approved by the Insolvency Service of Ireland for the purposes of meeting part of the requirements to make an application to the ISI for authorisation to carry on the practice of a PIP.
The Personal Insolvency Act 2012 (Authorisation and Supervision of Personal Insolvency Practitioners) Regulations 2013 (S.I. No. 209 of 2013) set out the qualification criteria, authorisation requirements and regulatory standards that must be met for an individual to be authorised to carry on the practice of a Personal Insolvency Practitioner.
An individual may make an application to carry on practice as a Personal Insolvency Practitioner if that individual:
- is a Solicitor in respect of whom a practising certificate (within the meaning of the Solicitors Acts 1954 to 2011) is in force; or
- is a Barrister at law called to the Bar of Ireland;
- is a qualified Accountant and a member of a prescribed accountancy body (within the meaning of section 4 of the Companies (Auditing and Accounting) Act 2003; or
- is a Qualified Financial Advisor who holds a current qualification from the Life Insurance Association of Ireland (LIA), the Insurance Institute or the Institute of Bankers School of Professional Finance; or
- holds a qualification in law, business, finance, or other appropriate similar qualification to the satisfaction of the Insolvency Service recognised to at least level 7 of the National Qualifications Framework by Quality and Qualifications Ireland (or equivalent)
- can demonstrate to the satisfaction of the Insolvency Service that he or she has relevant knowledge and experience of and has completed a course of study and passed an examination on the law and practice generally as it applies in the State relating to the insolvency of individuals; and the Act.
The Certificate in Personal Insolvency Practice course is structured to ensure that participants from different fields of employment will have the opportunity to qualify as a Personal Insolvency Practitioner.
Each course comprises of 38 contact hours and three Saturday workshops from 9.30 am to 1.30 pm. Lectures are delivered from South Great George’s Street in Dublin 2. Please note that attendance in person at the weekday lectures is compulsory in order to satisfy the requirements of certification. Attendance in person at the workshops is not compulsory, they will be webcast live online and recorded for review. The purpose of these sessions is to serve as tutorials and to work on practical exercises in the day-to-day work of a PIP.
The course will be assessed by a two-hour open book examination (50%) and two assignments (25% each).
The Course is divided into eight sessions with a number of modules per session. The proposed modules will cover the following topics:
Session 1: Introduction to Personal Insolvency
Session 2: Financial Requirements of the Personal Insolvency Practitioner
Session 3: Practical Aspects of Personal Insolvency Practitioner’s Role (Part I)
Session 4: Practical Aspects of Personal Insolvency Practitioner’s Role (Part II)
Session 5: Legal and Commercial Components of the Personal Insolvency Practitioner’s Role
Session 6: Creating a Personal Insolvency Practitioner Practice
Session 7: Additional Matters affecting the Personal Insolvency Practitioner
Session 8: Case Studies and Exam Preparation
On completion of the City Colleges’ Certificate in Personal Insolvency Practice, participants will be able to:
- Demonstrate a comprehensive understanding of the Personal Insolvency Act 2012 and the role it will play in the development of insolvency practice in Ireland.
- Show a detailed knowledge of the role of the Personal Insolvency Practitioner including the ethical considerations and obligations.
- Critically assess and interpret all financial, legal and commercial documentation involved in the insolvency process.
- Communicate this knowledge with the parties involved in the insolvency process.
- Analyse the financial, legal and commercial documentation involved in the insolvency process.
- Engage and negotiate with all parties involved in the insolvency process including creditors, debtors, the Insolvency Service of Ireland and the Courts of Ireland.
- Advise Debtors on all areas of insolvency.
- Provide Debtors with the required information.
- Aid Debtors in commencing and completing a personal insolvency arrangement.
Lecturers delivering this programme are leading practitioners in their respective fields who have significant experience and expertise in dealing with the issues raised by personal insolvency. Modules will be delivered by practising barristers, solicitors, accountants, psychologists and economists who are accomplished in their respective areas of practice.
Course fee: €1,495 (the full amount is payable before course commencement)
Attendance to all modules is compulsory in order to successfully complete the course.
Assessment will consist of a two-hour written examination (50%) and two assignments (25% each).
ISI Debt Solutions
The Insolvency Service of Ireland (ISI) is an independent government body set up to help tackle personal debt problems.
The ISI has three debt solutions that are alternatives to bankruptcy, and in fact must be explored before someone can seek to be made bankrupt. To administer these schemes the ISI has established a network of qualified professional advisors around the country who are there to provide advice on the options available to individuals. There are two types of professional advisors; PIPs (Personal Insolvency Practitioners) and AIs (Approved Intermediaries). Everyone providing these services have passed exams on personal debt and are regulated by the ISI. Many PIPs are also accountants, solicitors or qualified financial advisors.
The benefits of these solutions are that they ensure people have a reasonable standard of living (which is often higher than the amount they were trying to live on before seeking an insolvency solution), one of the terms of the arrangements means that creditors cannot make contact with you during the arrangement, and at the end of the agreed term any money still owed on unsecured debt like credit card debt and personal loans are completely written off. If the person has secured debt, like a mortgage, the PIP will make sure that the repayments are affordable.
If you or someone you know is struggling with debt, you are not alone. Take the first step to take back control of your finances, make an appointment with one of the growing network of PIPs throughout the country, or if your debt is less than €35,000 and you do not have a mortgage contact an AI. For more information about these solutions and to hear the stories of debtors who have availed of these solutions visit the website www.backontrack.ie or call 0761064200
Why City Colleges?
- Courses for students who are passionate about their subject, delivered by leaders in their field.
- Live lectures which are also streamed live on Moodle and recorded for review
- City centre location in South Great George’s Street, convenient for bus, LUAS, DART
- Southside Dublin location in Dundrum
- Study rooms and library in our City Centre location
- Limited class size