If you’ve found yourself in a position where you’re unable to repay both secured and unsecured debts of €20,000 or more, bankruptcy may be your best option.
Despite bankruptcy sounding severe, recent changes to Irish bankruptcy laws have actually made it a lot easier for you to resolve your debt. You no longer have to deal with the crippling restrictions that used to be enforced when you became bankrupt.
Those changes mean that if you declare bankruptcy now, you’ll only be classed as bankrupt for 1 year, instead of the 3 or 15 years as it was previously. You’ll also be able to keep up to €6000 of your important assets and, depending on your circumstances, you may be able to keep your home.
Anyone can be hit by severe financial difficulties regardless of their background or personal circumstances. Unfortunately shame and anxiety can lead people to hold off bankruptcy arrangements until they’re in an even worse position.
At Gibson & Associates, we understand how all-consuming the stress of money issues can be. That’s why our experienced solicitors will go above and beyond to make sure yours are resolved as quickly as possible either by bankruptcy, or by another insolvency option.
You and your circumstances are unique – your solicitor should be too. Get in touch with our friendly and experienced bankruptcy team today, and we’ll get back to you within 3 hours or less.