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Debt Settlement Arrangements

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I have mounting unsecured debts, which are border line unmanageable.
I have a mortgage on my home with equity of about €120,000 and a rental property outside the state in negative equity of about €80,000
Am I correct in thinking that I can't apply for or enter in to a Debt Settlement Arrangement if I have secured debt, even if that debt and repayments are manageable.

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