How to File for Bankruptcy in Ireland

Learn how to file for bankruptcy in Ireland.

Bankruptcy does not affect many people in Ireland, according to the "Irish Times," but during tough economic times more people have to file. The "Irish Times" reports that the number of people who declared bankrupt doubled in 2009 from 2008. In Ireland, bankruptcy can be filed in two ways: by the person with the debt or by a creditor making an appeal in court.

Things You'll Need

• 1,900 euro in assets (as of 2010)
• Petition
• Financial documents

Instructions

1. Petition the High Court at the Office of the Examiner of the High Court, 2nd Floor, 15/24 Phoenix Street North, Smithfield, Dublin 7. Telephone: [phone]. A Petition is an official document detailing your finances and your promise to go to court at the requested time. You must also include a Statement of Affairs, detailing your assets, that you swear to abide.

2. Attend court on the date and time given to you. At court a judge will decide if you can be declared bankrupt. A Official Assignee will then take control of your assets.

3. Speak to the trustee, called the Official Assignee, assigned to your bankruptcy case by the High Court. The Official Assignee will now have control of your assets, selling them to raise funds to cover your debts.

4. Check to see if you have 1,900 euros worth of assets. Ireland requires the debtor to have assets that can raise at least 1,900 euros when sold. If you do not have assets worth this amount, you cannot get a bankruptcy judgement, states the Court's Office.

5. Pay the fees charged by the court. Ireland requires those petitioning for bankruptcy to pay fees relating to their case, including the ads placed in the newspaper about court dates. Pay the fees at the Official Assignee's Office. Pay 650 euros in advance when you file your Petition.

6. Tell anyone you request credit from that you have been declared bankrupt. Any application for credit of more than 650 euros requires you to tell your potential creditor about your bankrupt status. Your name will permanently remain on the Bankruptcy Register, even if you get discharged from your status.

Tips & Warnings

• Think carefully before you declare bankruptcy. Once declared bankrupt in Ireland, the status stays with you, even after death, unless it is discharged.

References

• Irish Times: Bankruptcy declarations double in 12 months
• Lavelle Coleman Solicitors: Irish Bankruptcy Law
• Courts Service Ireland: Bankruptcy and the Examiner's Office

Resources

• Revenue Commissioners Ireland: Collection Manual
• Debt Advice: Bankruptcy in Ireland FAQs