The Standard Debt Settlement Arrangement and Personal Insolvency Arrangement Protocol documents incorporate standard terms which should suit the majority of cases:
**Both the Standard Debt Settlement Arrangement and Personal Insolvency Arrangement Protocols were updated on 4 July 2016**
The ISI has summarised the changes made to both Protocols below:
The Principles document below contains the over-arching aims of the both the DSA and PIA Protocol and sets out the high level agreement reached by the Debt Solutions Protocol Steering Group on the issues:
** The Principles document has been updated to refer to the updated Protocols**
To give an idea of how these documents will work in practice the ISI has populated a Standard Debt Settlement Arrangement and Personal Insolvency Arrangement Proposal:
PIA/Bankruptcy Comparison Template
The following PIA/Bankruptcy Comparison template was agreed by the Protocol Oversight Committee.
Post Approval Documents
The Debt Solutions Protocol Steering Group also prepared documents which can be used by practitioners post approval of an arrangement. These include notifications of the results of meetings of creditors, periodic reviews, variations, etc. While the use of such standard documents is not a requirement, it should bring benefits to both Practitioners and creditors and is strongly encouraged.