Personally speaking, I find the whole travelling over to the UK to avail of a very simple and quick bankruptcy procedure a quite frankly disgusting abdication of personal responsibility and typical of the change in Irish psyches over the last 15-20 years.
12 months is a ridiculously short time to be allowed to come out of bankruptcy IMO (just as 12 years is far too long). Now while I accept that bankruptcy is the only solution in some instances, there HAS to be some pain involved. I find it absolutely disgraceful that someone can swan off to England for a year, then come back and I have to shoulder the burden of their debt as well as my own.
People in this country made mistakes. Not just big bankers, millionaire developers and politicians (can't think of a suitable printable adjective here!) but ordinary decent working people.
I made mistakes. I took out a mortgage top-up and bought new cars and went on expensive holidays. But I'm paying for it now. I'll admit I'm lucky, I have a full-time job and my wife has a full-time job. However half of our monthly income goes solely on paying the mortgage, servicing stupid loans and paying childcare costs. If we didn't have those loans, my wife wouldn't have to work and she could enjoy our children's formative years.
I would reckon there is not one person in this country who doesn't want to see the likes of David Drumm back in Irish courts having to pay his dues to this State. So what is different about hundreds of little "David Drumms" running off to England to try to do exactly the same thing?
So I would urge our government to pass some form of legislation reducing the bankruptcy discharge period to 5 years while also refusing to accept a discharge from another country where the discharge period is less than this.
If people want to avail of UK bankruptcy then so be it, but lets not make it an easy choice.
Just my 2c anyway
Let the games begin!
12 months is a ridiculously short time to be allowed to come out of bankruptcy IMO (just as 12 years is far too long). Now while I accept that bankruptcy is the only solution in some instances, there HAS to be some pain involved. I find it absolutely disgraceful that someone can swan off to England for a year, then come back and I have to shoulder the burden of their debt as well as my own.
People in this country made mistakes. Not just big bankers, millionaire developers and politicians (can't think of a suitable printable adjective here!) but ordinary decent working people.
I made mistakes. I took out a mortgage top-up and bought new cars and went on expensive holidays. But I'm paying for it now. I'll admit I'm lucky, I have a full-time job and my wife has a full-time job. However half of our monthly income goes solely on paying the mortgage, servicing stupid loans and paying childcare costs. If we didn't have those loans, my wife wouldn't have to work and she could enjoy our children's formative years.
I would reckon there is not one person in this country who doesn't want to see the likes of David Drumm back in Irish courts having to pay his dues to this State. So what is different about hundreds of little "David Drumms" running off to England to try to do exactly the same thing?
So I would urge our government to pass some form of legislation reducing the bankruptcy discharge period to 5 years while also refusing to accept a discharge from another country where the discharge period is less than this.
If people want to avail of UK bankruptcy then so be it, but lets not make it an easy choice.
Just my 2c anyway
Let the games begin!