# PIA Early Termination



## GreenBoy (31 Oct 2019)

In the last year of an insolvency, is it possible to get a loan from a family member amounting to the total amount of payments remaining on the insolvency and terminate early?


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## Brendan Burgess (31 Oct 2019)

What does your PIP say? 

Brendan


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## GreenBoy (31 Oct 2019)

Haven't approached them yet. Just curious at this point.


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## Jim Stafford (4 Nov 2019)

Yes, it is possible to do, but it would have to be done as a Variation. Unfortunately, your PIP is likely to charge you a fee for doing  a variation.

Jim Stafford


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## yrrab (18 May 2021)

Jim Stafford said:


> Yes, it is possible to do, but it would have to be done as a Variation. Unfortunately, your PIP is likely to charge you a fee for doing  a variation.
> 
> Jim Stafford


This info is not true for all pips.The better pips dont charge .The cost is taken out of the agreed divident so there is no extra cost added on.


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## Jim Stafford (19 May 2021)

yrrab said:


> The better pips dont charge


It all depends on how the PIA was constructed. Many PIA's allow for "minor" variations. PIPs are legally allowed to extend all PIAs by up to a maximum of 12 months without the need to convene a creditors meeting. However, major variations would require a creditors meeting to approve them.  I do not know of any PIP who does not charge extra for a "major variation" (unless they were doing it _pro bono.)_

Jim Stafford


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## PIPPOP (19 May 2021)

yrrab said:


> This info is not true for all pips.The better pips dont charge .The cost is taken out of the agreed divident so there is no extra cost added on.


Who are better pips? Genuine question...


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