Insolvency advisers face paying annual fees
Financial experts will face annual costs of hundreds of euro if they want to negotiate deals on behalf of those struggling with debt, writes Emma Kennedy.
Financial experts will face annual costs of hundreds of euro if they want to negotiate deals on behalf of those struggling with debt.
Prospective personal insolvency practitioners (PIPs) must pay an application fee of €1,500 to the Insolvency Service of Ireland (ISI), plus an annual renewal fee of €1,000 thereafter.
PIPs will also need to take out significant professional indemnity insurance, which experts say could cost about €1,000 each year.
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine