I had an initial consultation with a PIP which was free of charge. Immediately, as I expected, he was able to rule out a PIA as there is nothing to give. He recommended bankruptcy and didn't mention any further dealings required with him. I then contacted the Official assignees office and confirmed the criteria to adjudicate myself bankrupt. Both the PIP and the Assignees office were very helpful and at no point did either of them mention having to go through the motions of a PIA/DSA.
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Bronte, I don't have a letter but I'm sure he would provide one if required. I'd imagine though that the affidavit would be sufficient as if you lied and your creditors could prove it, they would have good grounds to prevent your discharge.
It seems to be that you must enter a DSA/PIA first if you are eligible but can proceed directly to bankruptcy, if like me, you have nothing to offer.
After you are made bankrupt you must then arrange and pay for an
advertisement of notice of your bankruptcy in a national newspaper - the newspaperad can cost €500 or more depending on the newspaper
When lodging funds to this account, you must ensure that you quote
the following references:
- Name of Solicitor issuing petition
- Debtor’s name .
Yes it seems I will be a guineapig and this is something that I had to consider strongly but on weighing up the pro's and con's, I'd sooner get the process started then hang around. Many of the rules will surely be made up as we go along but that is the nature of the beast.Ok both those points seem logical. You're one of the first guineapig's I reckon. It seems to be not so difficult a process. Have you found it difficult so far, you said the PIA and OA were very helpful, so that's good news.
I also agree with you that a 3 year Irish is better than a 18 months English bankruptcy. Apart from the time difference, is there anything else negative about the Irish bankruptcy that would worry you?
How is it you think the family home might be retained? In what circumstances.
. It's not what happens to us that defines us, it's how we deal with it that matters. There's always positives to be found around you, you need to embrace them and remain resilient.
2 things.
The ad costs in a national newspaper are horrendous. I would have expected the national newspapers to be more considerate in their pricings for these ads.
You mention on the document you have to put the name of the Solicitor issuing the petition, but I imagine that is because, normally petitions are done by Solicitors but in your case it will be you alone? Presumably because bankrupts cannot afford to hire anybody.
Email I received from Official Assignee office when asking about bankruptcy. (this was in August) hope it helps. Pat2 seems to be on the ball and given most of this info already. Same as Pat2, I cannot apply yet either due to needing the €1900 assets when applying, so am waiting for the new rules.
If you decide to apply to the High Court you make yourself bankrupt,
the initial costs are as follows:
- lodgement of €650 to the Official Assignee,
- after you have lodged this money to the Official Assignee account
(please see details from our website on this below) you then have to
attend at the Examiner's Office of the High Court in Smithfield,
Dublin 7 and lodge a petition and affidavit with them - stamp duty of
approximately €100 is payable on these 2 documents. I would suggest
that you contact the Examiner's Office in advance: their email is
Examinersmail@courts.ie or you could ring them on (01) 888 6221 as our
office does not take in any documents relating to bankruptcy before a
bankruptcy order is actually made.
After you are made bankrupt you must then arrange and pay for an
advertisement of notice of your bankruptcy in a national newspaper and
in an official publication called the Iris Oifigiuil - the newspaper
ad can cost €500 or more depending on the newspaper plus the Iris
Oifigiuil ad costs approximately €64.
If you are applying to Court to be declared bankrupt after the new
legislation dealing with bankruptcy comes into force (which is
expected to be October) then your affidavit must confirm that you have
made reasonable efforts to reach an appropriate arrangement with your
creditors by making a proposal for a Debt Settlement Arrangement or
Personal Insolvency Arrangement.
I hope this is of some assistance.
Extract from website office page;
You should lodge €650 to the Official Assignee Holding Account as
follows:
Account name: The Official Assignee in Bankruptcy
Account Address: AIB Bank, Capel Street, Dublin 1
Sort Code: 93 11 01
Account Number: 44043077
IBAN: (if applicable) IE79AIBK931101
When lodging funds to this account, you must ensure that you quote
the following references:
- Name of Solicitor issuing petition
- Debtor’s name
You should email the office at
officialassigneeinbankruptcy@courts.ie to confirm the above
details. Attach a scanned copy bank lodgement confirmation of the
payment into the above account.
We will then forward a receipt by email. This email receipt should
then be produced as evidence of payment when attending to issue the
petition at the Office of the Examiner of the High Court.
This practice change will avoid customers having to attend at Block
2, Phoenix House, Conyngham Road, Dublin 8 to pay the €650 fee and
receive a receipt for production to the Office of the Examiner of
the High Court.
If you are applying to Court to be declared bankrupt after the new
legislation dealing with bankruptcy comes into force (which is
expected to be October) then your affidavit must confirm that you have
made reasonable efforts to reach an appropriate arrangement with your
creditors by making a proposal for a Debt Settlement Arrangement or
Personal Insolvency Arrangement.
Does this not suggest you have to make the PIA or DSA before you can apply for bankruptcy
.
A judge would be clearly able to see if a DSA/PIA etc would apply to the particular case.
Hi guys I am trying to stay out if this in case I seem like pushing for work. I never do that. But I am worried that you have missed this or I have got it wrong
If you are applying to Court to be declared bankrupt after the new
legislation dealing with bankruptcy comes into force (which is
expected to be October) then your affidavit must confirm that you have
made reasonable efforts to reach an appropriate arrangement with your
creditors by making a proposal for a Debt Settlement Arrangement or
Personal Insolvency Arrangement.
Does this not suggest you have to make the PIA or DSA before you can apply for bankruptcy
The key word is "making" and this from the IS
Hence the need to engage a PIP
This is what I assumed months ago. Has it now changed that you can simply file an affi saying you can't do a DSA or PIA
Steve Thatcher
Any updates on this, I thought it was going to be two weeks and the minimum assets being €1900 was going to be cancelled but I haven't heard it anywhere. Dubliner or Pat, did you hear the OA on the Marian Finucane show?