# Firsthand experience of Bankruptcy in Ireland



## zipit (27 Apr 2012)

Is there anyone who can report firsthand experience of being bankrupt in Ireland currently?


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## ballaboy (27 Apr 2012)

Am familar with Bankruptcy attend court every Monday,if it important to you can put you in touch with some one who is bankrupt for last twelve months.


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## Bronte (2 May 2012)

It would be highly unlikely anyone on here would have first hand experience of Irish bankrupcy as it is such a rarity.  Try asking Sean Fitpatrick.  Only the rich can go bankrupt and I don't think they post on AAM.


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## miik999 (7 May 2012)

*BOI after me, can they touch my UK acc*

I may be posting this in the wrong place, it is my first post.
I have a question regarding BOI in ireland. About 5 years ago I bought an old property which i intended to develop. It cost €270k . I paid down €100k and borrowed €170k from BOI.I have paid off €10k off the loan but with the last 2 years I have only been able to pay a little more than interest every month. 
The property has lost over 75% of its original value and now the bank are after me for more security. I don`t own any other propery in Ireland. Currently my wife and I are renting a house to live in. I recently sold my home at a giveaway price and the money is in a UK bank acc, which I have had for years.
My question is ; Can the BOI get their hands on the money in the UK bank acc and put a charge on it.(freeze it)
Also, all the time I am paying the Interest on the loan can they repossess the property.Would I be better off to stop paying and tell them to take it back, as ultimately that is what will happen anyway.
All help appreciated.


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## Bronte (8 May 2012)

What is the property worth?  Would you not be better off using your sale proceeds to pay off some of the mortgage and then continuing to pay back the mortgage.  Are you in a good job in the UK, were you UK based when you purchased the Irish investment.  Does the bank know about your job and where you are based.  If yes then in all likelyhood they will come after you particularly if they knew you've recently sold.  

What exact extra security are they looking for?


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