This may be the answer you were looking for to remedy your debt problems. The worst thing about bankruptcy is probably the name, and the popular (and wrong) belief that you may lose your family home. The truth is different, your family home is not automatically sacrificed if you go bankrupt.
Bankruptcy is a legal process not an administrative one. If you use bankruptcy as a solution for your debt and follow our process you will be doing so with a team of experts on your side who will guide you through it in a manner designed to minimise any stress and maximise the value for money and efficiency of the process.
If you are of the opinion that you can’t afford bankruptcy talk to us, we can help you find a solution.
There are two ways you can use the route of bankruptcy, the first is to self adjudicate (make the application yourself and go through the process alone), we can show you how to do that and by doing this you will also have reduced outlay.
The other option is to have help. The people you will have on your side are solicitors, accountants, personal insolvency practitioners, qualified financial advisors, and they also hold qualifications in financial regulation, mortgages and qualifications in several other relevant areas.
Bankruptcy offers you several advantages
- It has a set end date, informal arrangements can and will be going on in many cases for decades after they are made. Bankruptcy has a set end date.
- Your creditors stop harassing you, now they must deal with the official assignee in whom all of your assets are vested.
- With any shortfalls your debts are written off, not warehoused, not delayed, not set aside for later, just gone.
- The discharge period is 3 years which is shorter than personal insolvency arrangements and debt settlement arrangements.
- Your family home is not given the ring-fenced protection that it would have using other solutions, but equally, it isn’t guaranteed that it will be sold from under you, our team can explain the working implications and the typical way that this is dealt with when we meet.
- With the exceptions of several professions, bankruptcy doesn’t exclude you from working, having a normal life, or from having a bank account.
Getting help from BankruptcyAdvice.ie means you’ll have the professionals you need to walk you through the process and answer your questions, it means you’ll have sound legal and financial help, that your documentation will be filed properly and on the day in court you’ll have representation available should you want it.
We can’t change how the banks work with borrowers, we can’t undo loans or legacy issues, what we can do for you is help you get a fresh start in your life if you decided to make that choice yourself. You can either apply online or call us to start the conversation.