The ISI believes you are entitled to a reasonable standard of living while you address your debt problems. With the ISI’s solutions, there is a minimum standard of living you are entitled to which allows for expenses such as food, clothing, health, household goods and services, communications, socialising, education, transport, household energy, childcare, insurance and modest allowances for savings and contingencies.

The ISI considers that a reasonable standard of living is one which meets your physical,  psychological and social needs. It does not mean that you should live at a luxury level but neither does it mean that you should only live at subsistence level. You should be able to participate in the life of the community, as other citizens do.

The figure is often higher than the amount people in debt live on before seeking an insolvency solution.

An example of Reasonable Living Expenses for a couple with two children and a car, paying rent of €1,500 a month is €3,174.22. In an insolvency arrangement, this is the approximate amount you would have to live on BEFORE having to pay towards your debts.