# Interesting account of one person's experience of bankruptcy



## Brendan Burgess (6 Apr 2015)

https://forbetterorbankrupt.wordpress.com/

I haven't read it yet, but it looks interesting.

Brendan


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## Brendan Burgess (6 Apr 2015)

_The reply I got from an email I sent to the Examiners office requesting information on my court date put me straight back to that parts department. Basically the gist of the email was that they have staff shortages in the office, are not currently processing self adjudicated applications and cannot say when they will be in the future_

What is the Examiner's Office?

Are they giving priority to people who can pay an Insolvency Practitioner or Solicitor to process the case for them?

OK, it seems to be a step for people who have not tried a PIA or DSA. They get a cert from a PIP, to say that there is no point in a PIA and this must be approved by the Examiner's Office. 

Brendan


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## Brendan Burgess (6 Apr 2015)

The blog is very frustrating in that it gives no financial details.

To whom does he owe money?  I would like to see his assets and liabilities. 

He seems to be a mature student and has a list of things which keep him busy while he is bankrupt. But bankruptcy should not mean unemployment. He is obviously very talented. Why is he not working? 

He talks about homelessness.  Bankrupts don't need to be homeless. 

Brendan


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## Matthew Moore (6 Apr 2015)

Brendan Burgess said:


> What is the Examiner's Office?
> 
> 
> Brendan




Hi Brendan,

Firstly, thank you for giving my blog a mention. I had to think long and hard about speaking publicly about the experience and what the implications may be, I hope it will be of benefit to some people.

I am guilty of assuming that people reading the blog will have some understanding of the process, I shall amend the post and provide further explanation in future on points that are not common knowledge.

My bankruptcy forms are lodged with the Examiner's Office. This is an office attached to the courts service who take care of the administration before I go to court. Once they are satisfied that my forms are in order, they will give me a court date for my adjudication hearing. This will be my only dealings with them in the process.


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## Brendan Burgess (6 Apr 2015)

Hi pat

I have some understanding of the process generally, but have not had any direct experience of it step by step. 

So I had not realised that there was this "Examiners Office" step and how long it takes. 

From reading your threads on askboutmoney, I can sort of figure out your path.  But I think your blog should be standalone. 

You should set out the figures and why the PIA was not suitable. 

Also the reaction of Bank of Ireland would be very interesting. 

Are you still paying BoI or have you stopped? 


Brendan


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## Matthew Moore (6 Apr 2015)

Brendan Burgess said:


> The blog is very frustrating in that it gives no financial details.
> 
> To whom does he owe money?  I would like to see his assets and liabilities.




Brendan,

It was not my intention to frustrate anybody. Please remember that it is not a book with a start and end, it is very much a work in progress. For the moment, due to time constraints, I will be posting about the process and my future. I may at some stage, probably over the summer, speak in detail about how I got to where I am. In the meantime, here's a rough break down of my assets and liabilities; http://www.askaboutmoney.com/threads/mortgage-arrears-and-large-debts.182268/#post-1365968



Brendan Burgess said:


> He seems to be a mature student and has a list of things which keep him busy while he is bankrupt. But bankruptcy should not mean unemployment. He is obviously very talented. Why is he not working?
> 
> He talks about homelessness.  Bankrupts don't need to be homeless.
> 
> Brendan



That is correct, I am a full time mature student, just finishing the first year of a 4 year degree course. The course is very demanding and I'm lucky to be spending my time with some of the brightest young students in the country, the CAO points this year were almost 580 points minimum. As somebody who left school at my junior cert, I can assure you that I have to spend a considerable effort keeping up to speed. However, graduating at 35 will leave me with nearly 4 decades to make up for lost time. 

The list you mention are goals I hope to achieve over the next few years, I don't believe in sitting on my hands and feeling sorry for myself.

I agree, bankruptcy does not mean unemployment, however, I must give as much attention to my education as I possibly can, it is a fantastic opportunity. I am very lucky to have a 6 month old son, our first child was born on the day I started college. With all this in mind, the hours I can devote to working during term are minimum. Nevertheless, I do have a part time job but unfortunately my earnings are still not enough to meet the ISI's reasonable living standards and pay my mortgage.

I have tried everything to come to an arrangement with my lender, continuous engagement since before we went into arrears as I knew we has issues coming down the pipeline. I won't recount all we have done in this post but its safe to say we have tried almsot everything but nothing was satisfactory to my lender. My lender told me that they intend to seek possession. In February they handed it to their solicitors who in turn sent us a letter threatening court action in 7 days. That is where it stands at the moment. If the bank proceeds I can offer no defense and they will surely get a possession order, rendering my family homeless. 
The only way I could avoid homelessness at that point would be to leave college and try to find a job.


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## Matthew Moore (6 Apr 2015)

Brendan Burgess said:


> From reading your threads on askboutmoney, I can sort of figure out your path.  But I think your blog should be standalone.
> 
> You should set out the figures and why the PIA was not suitable.
> 
> ...



I agree, there is housekeeping to do to keep the story coherent. 

As mentioned above, we have tried many things with BOI, none of which lead to a long term solution. I believe BOI could have reacted differently to some of the proposals but at the end of the day, I broke my contractual agreement so they hold most of the cards. 
We currently pay what we can afford off the mortgage but BOI have said this is not enough.


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## Bronte (7 Apr 2015)

pat2 said:


> My bankruptcy forms are lodged with the Examiner's Office. This is an office attached to the courts service who take care of the administration before I go to court.


 
[broken link removed]

Step 1.

Transfer € 650 to the Official Assignee in the Bankruptcy Division of the ISI, either electronically or using an interbank transfer. You should email the Bankruptcy Division at bankruptcy@isi.gov.ie to confirm your lodgement and attach a scanned copy bank lodgement confirming your payment. We will then forward a receipt to you by email. You must produce this email receipt when issuing the petition at the Office of the Examiner of the High Court. The relevant account details are set out at


Step 4

File the stamped documents and Statement of Affairs in the Examiner’s Office. You must bring the receipt for the € 650 payment to the Official Assignee with you. You will be provided with a Court date once the Examiner’s Office is satisfied that all of your papers are in order for submission to the Court.


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## Bronte (7 Apr 2015)

And of course even our new bankruptcy service is not working:

http://www.independent.ie/irish-new...long-delays-in-bankruptcy-cases-30287174.html

Broke people being expected to pay every step of the way too.  €500 for a letter from a PIP.


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## Matthew Moore (7 Apr 2015)

Bronte said:


> [broken link removed]
> 
> Step 1.
> 
> ...



Hi Bronte,

Just to note, the Official Assignee's fee is now €200 and there is no stamp duty on the forms anymore.


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## Bronte (7 Apr 2015)

pat2 said:


> Just to note, the Official Assignee's fee is now €200 and there is no stamp duty on the forms anymore.


 
I realise they've changed a lot of things Pat, but why on earth don't the ISI update their website, even links on one of those documents I posted are missing and they've all over the shop with too many different documents on bankruptcy.  One up-to-date document is what is needed and delettion of old documents.  It's not very helpful for people stressed with debt having to go through a minefield to get the correct information.

Pity really because their website was originally quite novel and simple.  Like many state bodies it's just going to grow into a big website that will be a labyrinth.

And it's really unfair that court dates are treated differently if a professional is sending in the paperwork.  It should be first come first served.  Sounds like discrimination to me to those that are so broke they need all the help they can get. No voice for them of course.  No money in it, that's why.


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## Matthew Moore (16 Apr 2015)

I have my court date at last. Next Monday 20th of April. Really hope I've covered all bases as I'll be representing myself in there. I have dropped in on previous sittings and it seems straight forward once everything is in order. 
More details on my blog here: [broken link removed]


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## Bronte (16 Apr 2015)

You'll be fine, you're well prepared.  If you read the Irish Times article Burgess/Deeter & Coffey wrote you'll see the courts are kind to people who represent themselves.

I have a friend who is going to go bankrupt (half a million) will be paying New Beginning 4K.


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## michaelg (16 Apr 2015)

Best of luck Pat, Its certainly a great help to read about your own experiences so far, thanks for sharing them,  nearly there myself, about to lodge all my forms with the examiners office.


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## Brendan Burgess (16 Apr 2015)

pat2 said:


> Just yesterday I received a letter from my lenders solicitor that they intend to issue legal proceedings. I speak more about it in this post from last night. [broken link removed]



Have you not received multiple advice on Askaboutmoney to go bankrupt. Get rid of your home and your huge negative equity?  Get a fresh start. 

Why on earth are you subjecting yourself to all this?  You should have voluntarily surrendered years ago. 

Brendan


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## Matthew Moore (16 Apr 2015)

Brendan Burgess said:


> Have you not received multiple advice on Askaboutmoney to go bankrupt. Get rid of your home and your huge negative equity?  Get a fresh start.
> 
> Why on earth are you subjecting yourself to all this?  You should have voluntarily surrendered years ago.
> 
> Brendan



My bankruptcy hearing is next Monday 20th of April. 

I don't agree that I should have surrendered my home "years ago". There are a number of reasons for this.

I have no problem with the NE, the house was bought as a home and I had every intention of paying the full amount of the loan. I believe I will be back in a position to meet full repayments in a couple of years at most.

The full mortgage amount is less than what it would cost to rent a similar house.
The bank would offer no plan on residual debt when we considered a voluntary sale.
Negoitations have been ongoing until December 2014 to reach a resolution, this would not have happened had we surrendered the house.
We cannot afford alternative accommodation at the moment and have a housing need which the State is not in a position to address.
I have offered the bank solutions that would mean a much greater return than repossesion.
As someone entering bankruptcy, it is unlikely I will be credit worthy for many years to come. A fresh start for me would be leaving bankruptcy in a position to meet my mortgage payments and all my unsecured debt gone.
There are many more reasons I could go into. I see no advantage to surrendering my home.


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## Matthew Moore (16 Apr 2015)

michaelg said:


> Best of luck Pat, Its certainly a great help to read about your own experiences so far, thanks for sharing them,  nearly there myself, about to lodge all my forms with the examiners office.



Thanks Michael and best of luck too. Give me a shout if there's anything at all I can do to help.

There were a few mistakes with my forms initially but they have now been corrected. I will post an updated version of my forms on my blog over the weekend to offer some guidance. The ISI guide is useful but there is a considerable amount of editing to do the forms, mine might offer some idea of what the finished article will look look.


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## Matthew Moore (16 Apr 2015)

Bronte said:


> You'll be fine, you're well prepared.  If you read the Irish Times article Burgess/Deeter & Coffey wrote you'll see the courts are kind to people who represent themselves.
> 
> I have a friend who is going to go bankrupt (half a million) will be paying New Beginning 4K.



Thanks, I'm as prepared as I'll ever be! 

What do New Beginnings offer for the fee?


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## Sarenco (16 Apr 2015)

Hi pat2

Could you explain what you mean by the following:



pat2 said:


> A fresh start for me would be leaving bankruptcy in a position to meet my mortgage payments and all my unsecured debt gone.


 
Surely you won't have any mortgage payments (or house for that matter) after the bankruptcy process has been completed?


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## michaelg (16 Apr 2015)

Thanks a million pat, 
Do you know what happens to your bank account on the day your adjudicated ? Are they closed or just frozen for a period of time ?


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## 44brendan (16 Apr 2015)

Hi Pat, I understand and have some sympathy with your predicament. However, I think that there are some flaws in your strategy and expectations. In terms of your last post I would make the following commentary on the points listed by you:

The reality here is that you have a high mortgage and no existing capacity to meet even a realistic portion of the repayments. the couple of years expectation is hardly realistic. per your blog you have a number of years of full time education left before you are even in a position to work. In the meantime why on earth would any bank sit back and wait in expectation that you will "eventually" start paying P&I on a much higher level of debt (due to interest accruing)?
Fine, but how is this relevant to your current opposition? I.e. you cannot afford to rent a similar house, so until your own house is repossessed you will be living rent free!
The bank will never offer a plan. It is up to the client to propose a plan and the bank to accept or reject it. Having said that see my next response.
The bank applied poor logic in refusing to accept the surrender of the property. BoI appear to have a very one dimensional approach to any settlement agreement. I.e.  They decline everything that means an ultimate write-off. This appears to be a Ritchie Boucher led "we will write off nothing" attitude which is totally unrealistic.
reasonable point, but nothing to do with your current position. I.e you cannot afford to rent a property but that has no relevance to your insolvency position. If you surrendered the property would you not be in the same predicament?
Not really likely. Best option for the bank at this time would be to accept the voluntary sale of your property and move on. You are not earning and unlikely to be earning for a number of years. potential to earn in the future is at this stage only that!
When you leave bankruptcy you will not have a mortgage as your house will be sold as part of the process or perhaps outside the process. In line with Brendan's earlier discussion this process is likely to take a couple of years.
I'm not quite sure why you choose the bankruptcy route!!! You have no earnings so the only disposable asset appears to be your PDH. Why not just let repossession take its course. By the time you commence earning again and are back on your feet the bank will likely have forgotten about you!!


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## 44brendan (16 Apr 2015)

Neither closed nor frozen. As a bankrupt the assignee will not interfere with your bank account.


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## michaelg (16 Apr 2015)

Thanks Brendan
Is this only a very recent change ? I was informed last year that they would close your account, then a few months ago by the IMHO that they would freeze your account and remove anything over 1000 euros ?


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## Matthew Moore (16 Apr 2015)

44brendan said:


> Hi Pat, I understand and have some sympathy with your predicament. However, I think that there are some flaws in your strategy and expectations. In terms of your last post I would make the following commentary on the points listed by you:
> 
> The reality here is that you have a high mortgage and no existing capacity to meet even a realistic portion of the repayments. the couple of years expectation is hardly realistic. per your blog you have a number of years of full time education left before you are even in a position to work. In the meantime why on earth would any bank sit back and wait in expectation that you will "eventually" start paying P&I on a much higher level of debt (due to interest accruing)?
> Fine, but how is this relevant to your current opposition? I.e. you cannot afford to rent a similar house, so until your own house is repossessed you will be living rent free!
> ...



Hi Brendan,

Thank you for such a comprehensive response. I would like to clarify a few points.

I work part time while studying full time.

I have no desire to live rent free. We pay what we can afford and requested interest only for three years to allow me complete college. It was refused.
As can be seen from this post, its far from certain what will happen to the family home in bankruptcy, especially when there is high NE. http://www.askaboutmoney.com/threads/the-family-home-in-bankruptcy.186863/
I don't think your advice to deal with debt by hoping "the bank...have forgotten about you" is sound. I chose bankruptcy because it was the best option. Our income was not sufficient enough to allow us enter a PIA or DSA. I also have about €300k of business related debt.


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## breakonthru (16 Apr 2015)

Hi Pat, 
Presuming you are on a low income (full time student) do you think -

A) the 'Official Assignee' (OA) will want an Attachment / Payment order in place for any surplus over and above allowed income?

B) At what point in process will OA make this order (or not)?

C) If no order is made due to no surplus - will OA be back in 6 months post court appearance to investigate if you're earning more?

Thanks in advance and best of luck in front of the judge!

Mike.


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## Matthew Moore (16 Apr 2015)

Sarenco said:


> Hi pat2
> 
> Could you explain what you mean by the following:
> 
> ...



I'm not entirely sure what will happen to my home in the bankruptcy. I believe the borrower and lender may agree to maintain a level of payments that the OA finds acceptable. Once all the unsecured debt is dealt with in bankruptcy a mortgage, possibly reduced, may be affordable. My lender being amenable to this is another matter completely.

It is discussed in more detail here http://www.askaboutmoney.com/threads/the-family-home-in-bankruptcy.186863/

And also here by Jim Stafford http://www.frielstafford.ie/personal-insolvency/what-happens-the-family-home-in-a-bankruptcy/


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## Matthew Moore (16 Apr 2015)

michaelg said:


> Thanks Brendan
> Is this only a very recent change ? I was informed last year that they would close your account, then a few months ago by the IMHO that they would freeze your account and remove anything over 1000 euros ?



I may be wrong but I think they will only be interested in accounts which have money in them or have large overdraft facilities etc.


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## Matthew Moore (16 Apr 2015)

breakonthru said:


> Hi Pat,
> Presuming you are on a low income (full time student) do you think -
> 
> A) the 'Official Assignee' (OA) will want an Attachment / Payment order in place for any surplus over and above allowed income?
> ...



Thanks Mike,

A) As its stands my income is not high enough to warrant an IPO. It is worth noting that the reasonable living expenses are divided between both adults if it is a two adult household. I'm not sure what the position would be with a 2 adult 1 income household.
B) I presume they will make the order as soon as possible in the process if applicable. The OA is on record as stating that he will only seek orders that last 5 years from date of adjudication if the bankrupt has acted in a fair way. For example, you get a good paying job a week before you are discharged; he will seek an IPO for 2 years and 1 week. Misbehave in his eyes and he has the ability to stick a 5 year IPO on you at any point in the process.
C) Yes, I believe it is 6-monthly intervals.


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## Sarenco (16 Apr 2015)

pat2 said:


> I'm not entirely sure what will happen to my home in the bankruptcy. I believe the borrower and lender may agree to maintain a level of payments that the OA finds acceptable. Once all the unsecured debt is dealt with in bankruptcy a mortgage, possibly reduced, may be affordable. My lender being amenable to this is another matter completely.
> 
> It is discussed in more detail here http://www.askaboutmoney.com/threads/the-family-home-in-bankruptcy.186863/
> 
> And also here by Jim Stafford http://www.frielstafford.ie/personal-insolvency/what-happens-the-family-home-in-a-bankruptcy/


 

Surely in going bankrupt you would want to be discharged from your mortgage obligations? 

In any event, you don't have an agreement with your mortgage provider to modify the terms of your mortgage (or from what I gather any real prospect of reaching such an agreement) so it seems pretty clear that your mortgage provider will be proceeding to enforce their security. 

If the threat of declaring yourself bankrupt did not persuade your mortgage provider to modify the terms of your mortgage, I fail to see why they would do so once you are actually declared bankrupt as at that point you will have no leverage to negotiate with your creditors.


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## Matthew Moore (16 Apr 2015)

Sarenco said:


> Surely in going bankrupt you would want to be discharged from your mortgage obligations?
> 
> In any event, you don't have an agreement with your mortgage provider to modify the terms of your mortgage (or from what I gather any real prospect of reaching such an agreement) so it seems pretty clear that your mortgage provider will be proceeding to enforce their security.
> 
> If the threat of declaring yourself bankrupt did not persuade your mortgage provider to modify the terms of your mortgage, I fail to see why they would do so once you are actually declared bankrupt as at that point you will have no leverage to negotiate with your creditors.



To be honest I will play it by ear. I like the community, the house, our neighbours etc.. There is a temptation to wash your hands of the mortgage but if an agreement was possible I would happily resume making full repayments as soon as I'm able.


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## Stuboy (17 Apr 2015)

Good Luck Pat,

I just passed my statutory sitting this week.
I handled everything myself and both court visits were dealt with by one sentence from the judge: all in order. If your papers were not in order you would not have been given a court date. After your first court date make sure you get your advertising dates right for ISI and Iris Offiguil. there is a 10 day window or thereabouts for your ads to be published. A number of people got it wrong at the statuory hearings I witnessed and had to come back for their statutory sitting a number of weeks later.


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## Stuboy (17 Apr 2015)

re the account. Your account will be frozen by the bank within 2 days of being adjudicated a bankrupt. I was able to go into the branch and take out money with the assistance of a manager, but it took a few days. Take out any money in your account and open an alternative account in another bank. In my case My mortgage bank (who my current account was with) informed me that the account was to be closed within a week.


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## 44brendan (17 Apr 2015)

pat2 said:


> I don't think your advice to deal with debt by hoping "the bank...have forgotten about you" is sound. I chose bankruptcy because it was the best option. Our income was not sufficient enough to allow us enter a PIA or DSA. I also have about €300k of business related debt.


In your case I agree! Given your level of income now your best strategy is to plan on exiting bankruptcy at time of completion of your studies and when your income is low. IPO if any is likely to be low. That gives you an ability to seek employment without the risk that a bank could still take proceedings against you for any residual debt. Same strategy would not necessary be appropriate for someone in a different earning position than yourself!

While you are hopeful of retaining the family home, all indications are that the Bank will take independent action on this outside of the bankruptcy. This is the standard approach of our bank. However, all of this should become more clear as time progresses and in the interim you are effectively living in rent free accommodation!


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## Matthew Moore (19 Apr 2015)

Stuboy said:


> Good Luck Pat,
> 
> I just passed my statutory sitting this week.
> I handled everything myself and both court visits were dealt with by one sentence from the judge: all in order. If your papers were not in order you would not have been given a court date. After your first court date make sure you get your advertising dates right for ISI and Iris Offiguil. there is a 10 day window or thereabouts for your ads to be published. A number of people got it wrong at the statuory hearings I witnessed and had to come back for their statutory sitting a number of weeks later.



Thanks Stuboy. Glad to hear things are moving along for you too. Great tips, thank you. I have some questions if you have a moment. At what point do you need to advertise and do the ISI provide you with this information?
Also, in relation to the bank account, I have nothing in mine bar a few cent, will the OA freeze this too and does he unfreeze it on discharge?

Thanks


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## Matthew Moore (19 Apr 2015)

44brendan said:


> In your case I agree! Given your level of income now your best strategy is to plan on exiting bankruptcy at time of completion of your studies and when your income is low. IPO if any is likely to be low. That gives you an ability to seek employment without the risk that a bank could still take proceedings against you for any residual debt. Same strategy would not necessary be appropriate for someone in a different earning position than yourself!
> 
> While you are hopeful of retaining the family home, all indications are that the Bank will take independent action on this outside of the bankruptcy. This is the standard approach of our bank. However, all of this should become more clear as time progresses and in the interim you are effectively living in rent free accommodation!



That is my plan, it is a prime opportunity to invest in my human capital.

In relation to "living in rent free accommodation", as mentioned above in my earlier reply to you, we do not live rent free and contribute as much as possible.


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## Stuboy (20 Apr 2015)

pat2 said:


> Thanks Stuboy. Glad to hear things are moving along for you too. Great tips, thank you. I have some questions if you have a moment. At what point do you need to advertise and do the ISI provide you with this information?
> Also, in relation to the bank account, I have nothing in mine bar a few cent, will the OA freeze this too and does he unfreeze it on discharge?
> 
> Thanks


Hi Pat,

it's not the OA that freezes the bank account, it was the bank that did that when they got the notice form the court that I was adjudicated Bankrupt. It's a procedural thing apparently. the manager was helpful in getting money out for me; had only been paid for the month and had very little cash on hand. anyway it was a prelude to them closing the account, which was an automatic thing once I was made bankrupt. It took me about 3 weeks to get the BOI account open as there are a number of sign offs required to open a bank account for a bankrupt, so open an account in another bank before you are adjudicated bankrupt.
Re advertising: as soo as you are out of court number 7 (if in dublin) look for the OA's official, s/he should be waiting outside. but here are the details he e-mailed me re advertising:

_*"Please see steps below for advertising the Statutory Sitting.  Please note you must advertise a maximum of 21 Days before and  minimum of 10 days before the Statutory Sitting takes place in both ISI and Iris Oifigiul. You must then provide proof to the Examiners Office that this was done at least 2 clear days which will be the Wednesday before the Statutory Sitting.

The Process of Advertising the Notice of Statutory Sitting on the ISI website and Iris Oifigiuil is as follows:

The Assistant Examiner will issue the Notice of Adjudication and Statutory Sitting to you (or in the Case of the PIP your client). This is normally
issued around 4-6 weeks before the Statutory Sitting.  To see a copy of
what the notice looks like and to see some instructions on how to advertise on the ISI website please go to:
[broken link removed] and click on any of the .pdf icons on the table.

Advertising on ISI Website

Email the ISI the scanned original "Notice of Adjudication and Statutory Sitting" (Form 19) to bankruptcy@isi.gov.ie and we will publish on our website. We will then issue you a Proof/Receipt by email.  The proof email we send must then be forwarded by you to the Examiners office by email:
examinersmail@courts.ie. There is no cost to advertising on the ISI website.

Advertising on Iris Oifigiuil

Iris Oifigiuil use a different format for advertising on their website for which there is a fee (up to €75). You do not need to send us anything for signing just add the details from the Notice into the word document (template below) and send to them at the contact details below.  Please note that as far as we are aware - Iris Oifigiuil do not accept Credit or Laser Card transactions.
Communications relating to Iris Oifigiúil should be addressed to the Editor, Iris Oifigiúil, Government Publications, 52 St. Stephen's Green, Dublin 2  Tel.: (01) 6476636. Fax: (01) 6476843 E-mail:*_
_*info@irisoifigiuil.ie*_
_*To vouch Iris Oifigiuil publication - you will receive by post (possibly registered) proof that your ad was published. Send this by registered post back to the Examiners Office."*_

STUBOY NOTE: I received confirmation by e-mail (and post) and forwarded it on to the court's email address in both cases. I also rang the court to confirm receipt of my ad confirmations.
Good Luck!


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## Matthew Moore (20 Apr 2015)

Stuboy said:


> Hi Pat,
> 
> it's not the OA that freezes the bank account, it was the bank that did that when they got the notice form the court that I was adjudicated Bankrupt. It's a procedural thing apparently. the manager was helpful in getting money out for me; had only been paid for the month and had very little cash on hand. anyway it was a prelude to them closing the account, which was an automatic thing once I was made bankrupt. It took me about 3 weeks to get the BOI account open as there are a number of sign offs required to open a bank account for a bankrupt, so open an account in another bank before you are adjudicated bankrupt.
> Re advertising: as soo as you are out of court number 7 (if in dublin) look for the OA's official, s/he should be waiting outside. but here are the details he e-mailed me re advertising:
> ...



Hi Stuboy,

Thanks for the information. I was adjudicated bankrupt today, out of the court ten minutes after it started and my part took all of 40 seconds. I met with the ISI people afterwards, very friendly people; they said they will be in contact in the coming days. 
I hadn't realised it is the bank who required the accounts to be closed, that's interesting. 

Thanks again for the tips and information!


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## breakonthru (20 Apr 2015)

Nick said:


> The UK/English Bankruptcy Law



Hi Nick, you should look at [broken link removed] and see the blog of one man's experience of Scottish bankruptcy which is a lot more forgiving than English bankruptcy law.

I mean all you need is a UK bank account,  some mate to employ ye on basic wage for 3/4 months,  bank transactions in Scotland (hand mate bank card!) Etc.

(Above IS NOT advocated at Irishbankrupt.com. com)

Too simple?


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## michaelg (20 Apr 2015)

Thanks so much Stuboy for your posts ,Its so helpful and assuring.
 Regarding opening another bank account before being adjudicated , Is that what you did ? I would have imagined that every bank account opened prior to the day of adjudication would have to be closed ?


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## Stuboy (21 Apr 2015)

michaelg said:


> Thanks so much Stuboy for your posts ,Its so helpful and assuring.
> Regarding opening another bank account before being adjudicated , Is that what you did ? I would have imagined that every bank account opened prior to the day of adjudication would have to be closed ?


No, opened new account after aib account was frozen. Took weeks as multiple people had to sign it off and nearly missed my wage payment which is by transfer. Only accounts with institutions that you owe money to will be informed by the oa of your bankruptcy.


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## Nick (21 Apr 2015)

Hi breakonthru,

well that is very easy in comparison, It might be way to simple.


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