# Cost of bankruptcy reduced



## DebtCert (3 Jan 2015)

I see that the debtor contribution to the OA has been reduced from €650 to €200 with effect from 31.12.14.  So, €200 to go bankrupt now doing it by oneself, plus about €70 to advertise it.  A significant reduction on the fees compared to 2013. It does cost more if you engage professionals to assist you, of course.


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## michaelg (6 Jan 2015)

Great news, thank you


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## Stuboy (6 Jan 2015)

I submitted my bankruptcy application today under the new fees. Has anyone on here gone through the process? if so, how have you found the experience?


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## michaelg (8 Jan 2015)

Will be submitting my own application very shortly , bank left me no choice, I've read its a huge relief to get it done.


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## Stuboy (9 Jan 2015)

"Will be submitting my own application very shortly , bank left me no choice, I've read its a huge relief to get it done."
I can imagine. Bank was very hard to get any firm negotiation with. they really seemed to want to push things out inevitably so as not to crystalise the loss.


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## Rubyd (11 Jan 2015)

Hi Stuboy

Congratulations (if that's appropriate) on your application. I'm about to do the same myself very shortly. May I ask, with your application did you also have to submit proof of your declined PIA and if so, in what form was this?

Thank you


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## Rubyd (18 Jan 2015)

Hi Michael

How did you get on with your application? Is it difficult to do it by yourself?



Thank you


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## Rubyd (18 Jan 2015)

Does anyone remember when exactly did the ISI waive the application fees for PIA application?


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## DebtCert (18 Jan 2015)

Rubyd said:


> Does anyone remember when exactly did the ISI waive the application fees for PIA application?



[broken link removed].


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## Stuboy (21 Jan 2015)

Rubyd said:


> Hi Stuboy
> 
> Congratulations (if that's appropriate) on your application. I'm about to do the same myself very shortly. May I ask, with your application did you also have to submit proof of your declined PIA and if so, in what form was this?
> 
> Thank you


Yes. Congratulations would be the word alright. Had to get a letter from a pip to state that I could not avail of a pia after looking at my financial position. If you had a pia vetoed again I believe that the proof is a signed pip letter to state that.  One pager, that was all. Got my court date already. Will all be done by end of Jan. Submitted on the 5th. Staff in official assignees office were really helpful with the forms.


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## Stuboy (27 Jan 2015)

Had my first Court date for this on Monday week. The experience was quite bizarre, but what struck me most was the large amount of people going bankrupt. I was mid 30's of those that were voluntarily going through the process, there were well over 30 or 40 people still in the court after me. It took approximately 20 seconds. Once the Judge speaks to you, you exit the room and go to the bankruptcy inspector for him/her to take your contact details and they then arrange the next steps by post, such as advertising it and meeting to discuss state of affairs. Quite surreal.


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## michaelg (27 Jan 2015)

Rubyd said:


> Hi Michael
> 
> How did you get on with your application? Is it difficult to do it by yourself?
> 
> ...



sorry for late response
the IMHO is helping me, dosent appear too dificult so far


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## michaelg (6 Feb 2015)

Stuboy said:


> Had my first Court date for this on Monday week. The experience was quite bizarre, but what struck me most was the large amount of people going bankrupt. I was mid 30's of those that were voluntarily going through the process, there were well over 30 or 40 people still in the court after me. It took approximately 20 seconds. Once the Judge speaks to you, you exit the room and go to the bankruptcy inspector for him/her to take your contact details and they then arrange the next steps by post, such as advertising it and meeting to discuss state of affairs. Quite surreal.



Hi Stuboy
Have you had your meeting with the oa yet ?


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## Matthew Moore (6 Feb 2015)

michaelg said:


> Hi Stuboy
> Have you had your meeting with the oa yet ?



I think it is proposed, or possibly in action already, that people who have debts below €1,000,000 do not require a meeting with the OA.


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## michaelg (6 Feb 2015)

pat2 said:


> I think it is proposed, or possibly in action already, that people who have debts below €1,000,000 do not require a meeting with the OA.



Thanks pat2
I'm sure you must have a meeting with some of his officials then ?


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## Stuboy (12 Feb 2015)

michaelg said:


> Thanks pat2
> I'm sure you must have a meeting with some of his officials then ?


Hi,

Been busy lately. No meeting with the OA. just sent an SPI (personal info) form to fill out.
returning that tomorrow with payslips, and proof of additional expenditure (childcare receipts, and medical receipts for one of the kids requiring regular dental treatment) outside of the standard allowance for our family setup I.e. two adults two children requiring car.

Unless they decide it necessary they will not meet with us.


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## michaelg (12 Feb 2015)

Thanks for that, what kind of info goes into the SPI form ?


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## rion (17 Feb 2015)

Hi Stuboy I'm in the process off going bankrupt also.  Was hoping you could advise me.

I have all forms fulled in just needed a PIP report which I will have by the end off the week.

I would like to know what I do next, what court do I send all the documents too.  The PIP has said he would do the rest for me at a cost of e1000 which I dont have right now.  Do you think I would be better off trying to find the money instead off going ahead myself and maybe messing things up?

What I need to know is am a far off been finished or is there lots to be doing after all the documents are sent off, when we send off all documents do they write back to you instructing you on what to do next.


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## michaelg (18 Feb 2015)

rion said:


> Hi Stuboy I'm in the process off going bankrupt also.  Was hoping you could advise me.
> 
> I have all forms fulled in just needed a PIP report which I will have by the end off the week.
> 
> ...



IMHO (irish mortgage holders organisation) will do it for free, you just need to pay the court fees.


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## Stuboy (22 Feb 2015)

michaelg said:


> Thanks for that, what kind of info goes into the SPI form ?


Hi,
Nothing crazy on spi. Salary after tax. Childcare cost and any payments that should be considered outside standard income allowance I.e. Medical fees etc. Receipts for three months of all above. House frozen for three months I.e. No action can be taken against it. Got forms in and payment order was issued within days. I thought it very reasonable.


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