Matthew Moore
Registered User
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- 286
Official Assingee interview, well worth a listen.
[broken link removed]
[broken link removed]
Official Assingee interview, well worth a listen.
Steve, it appears there should be some very relevant words added there which we discussed earlier in the thread.
Section 133 (b) (4) A debtor may not present a petition for adjudication unless the petition is accompanied by an affidavit sworn by the debtor that he has, prior to presenting the petition, made reasonable efforts to reach an appropriate arrangement with his creditors relating to his debts by making a proposal for a Debt Settlement Arrangement or a Personal Insolvency Arrangement to the extent that the circumstances of the debtor would permit him to enter into such an arrangement."
I think your emphasis is wrong. The piece you highlight means that he can only present his petition if he has circs which are such that he could do a PIA, ie he is insolvent... the key phrase surely is "by making a proposal for a DSA or PIA." This seems to assert that this must be done first. The reasonable efforts with his debtors, being the making of the proposal.
It suggests that a bankruptcy follows if that is rejected.
Are there any qualified PIPs on here to explain this. After all they have the training!! (but perhaps not 20 yrs insolvency experience)
Steve Thatcher
As a person who is going through the process what bits of the interview were helpful?
How much were you charged for the initial consultation with the PIP?
Steve
My own circumstances are €600kish secured and unsecured debt, currently unemployed with no assets.
Had an initial free of charge consultation with a PIP who confirmed that my circumstances would not be suitable for a PIA or DSA, have this in an email. He recommended bankruptcy. He did not require me to deal with him anymore or offer me further services.
Contacted OA's office and asked for procedure and costs to have myself adjudicated bankrupt. Received a very detailed email and have posted the details as explained by them.
At no point did anybody mention that you must pursue a PIA/DSA if clearly unsuitable. I have confirmed this with the PIP.
Our PIP's may not have the benefit of 20 years experience of our new insolvency legislation but who has?
We will know soon anyway when I put the new law into practice, hopefully in the next few weeks. I can understand that you, like many other people are eager to see how the new legislation works in practice so we can make a real comparison of Ireland v UK bankruptcy. I will post as many details as possible.
I cannot apply yet either due to needing the €1900 assets when applying, so am waiting for the new rules.
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I heard on the radio yesterday that this last obstacle was removed yesterday. Anyone have any confirmation of this?
If it seems you can present your own petition without a DSA or PIA great, what I was pointing out was that that was not what that section says you can do.
It may be that local practice on the ground now understands that that provision is unworkable and so they will ignore it, it doesn't invalidate pointing out the strict working.
Steve Thatcher
I hope thousands take up the solution as well as this debt needs to be cleared and until now I have been the only option.
You, like me, are entitled to your own opinion but not your own facts. It seems to me, as stated already, that in my own situation I'm living on well below the ISI reasonable living guidelines so clearly my "circumstances" would not permit me to enter a DSA or PIA.
I thank you for all the information you have supplied on AAM, much if not all of which I have read but you are not the UK insolvency system and there are many other UK insolvency experts.
Thank you Pat, it's posters like you that make we wonder whether its worth the effort sometimes. You want advice ask for an opinion and then decide what you want anyway.
Good bye AAM.
Steve Thatcher
Apparently its not necessary to advertise in newspapers anymore
Thank you Pat, it's posters like you that make we wonder whether its worth the effort sometimes. You want advice ask for an opinion and then decide what you want anyway.
Good bye AAM.
Steve Thatcher
Yes I heard this on the radio yesterday and it's mentioned in the Irish times here:
http://www.independent.ie/irish-new...fees-and-stamp-duty-cut-in-half-29790754.html
But the article is a bit unclear on the €1900.
Looks now like Irish bankruptcy will costs less than 1K, made up of 650 for the OA and 100 Euro in stamp duty on two documents.
That article also seems odd because it says New Beginnings and others are going to do bankruptcies for free. I thought all these organisations charge a fee?