Defending Bankruptcy Charges
Defending Bankruptcy Charges in Ireland.
Falling into financial trouble doesn’t always leave a debtor in the position to arrange debt repayments themselves. In certain situations, one or more of the people or organisations that are owed money can apply to have a debtor made bankrupt, even if the debtor doesn’t want them to.
Having this happen to you can leave you feeling helpless and out of control. However, you do have options, and there are ways to delay or even defend completely against unwanted bankruptcy.
Use the links below to find out more about the bankruptcy petition process and what you can do to prevent it.
Creditors can request that the High Court make a debtor bankrupt in the form of a document called a petition, a sworn document that sets out the nature of the debtor’s debts.
The creditors then promise to attend the court hearing, advertise the court sitting and pay any fees or expenses of the Official Assignee.
When the petition is filed, the petitioning creditor advertises notice of the debtor’s bankruptcy in the Iris Oifigiúil and a national daily newspaper or the ISI website.
The petitioner must lodge €200 towards the costs and outlays of the bankruptcy with the Bankruptcy Division of the ISI and take responsibility of any further costs and outlays which may be incurred.
Creditors may petition for bankruptcy against a debtor when it’s understood that the debtor has committed an act of bankruptcy within the previous three months.
Examples of these “acts of bankruptcy” can include:
The above may also link with other motivations that can lead to creditors wanting to petition for a debtor to become bankrupt. These may include:
However, before a creditor can petition for your bankruptcy, there are conditions that they need to meet. For example:
Furthermore, the debtor whom the creditor wishes to make bankrupt:
Lastly, the creditor’s petition must state whether they hold any security (for example, a mortgage or a charge) in respect of the debt. If so, they must indicate whether they intend to give up the security for the benefit of other creditors or put a value on their security.
Going through a petition for bankruptcy can, understandingly, be alarming and stressful, and can leave debtors feeling out of control and helpless. But, being petitioned doesn’t leave you without any options, and there are things you can do to ensure a better outcome for you.
Contracting an experienced solicitor can help you defend the bankruptcy petition completely, or even delay the proceedings until a more suitable time, giving you time to organise your debt in a way that gives you more control of your repayments.
While instructing a solicitor is not necessary, it’s considered advisable to get professional legal advice in advance of defending or delaying any bankruptcy proceedings.
Experienced bankruptcy and insolvency solicitors understand the intricate details of the ever-evolving bankruptcy laws in Ireland, and they can also help devise a strategy and a long-term plan that can help bring you out of debt on your own terms.
Even if bankruptcy is the best course of action for you, it can sometimes benefit to have the proceedings delayed. This can give you enough time to organise your affairs in a way that will better suit you in the long run. Solicitors can carry out well thought out negotiations to prevent bankruptcy from impacting you sooner than you’d like.
If bankruptcy is not something you are prepared to undergo, an experienced solicitor can work with you to defend against your creditor’s bankruptcy petitions, and can help you to explore other options that work better for your needs.
Our clients are people from all sorts of backgrounds dealing with all sorts of circumstances, and our highly experienced team understands how to help them make the most out of a stressful and deeply personal situation. Read our bankruptcy case studies for more information on how we’ve helped people in the past.
We understand that no one is immune to financial hardship and that with careful and strategic planning, no one has to be ruined by it either.
Our team of Bankruptcy and Insolvency solicitors can work with you to get a great plan in place, working towards a solution that you can be genuinely happy with. Contact us on+353 (0)1 872 3143 or email us to start working towards a brighter future today.
I received an excellent service from Oliver and his administrative staff, especially Clodagh O’Donnell. It was my pleasure to do business with you all. Many thanks.
Martin Burke, Finglas
Gibson & Associates acted for me in the purchase of my first home. I found the service offered to be first class and would highly recommend this firm to my friends and colleagues.
Tony Gillespie, Strabane
I would have no hesitation in recommending Gibson & Associates Solicitors to any person who needs a good professional team to represent them on any legal matter. The team was courteous at all times.
Leigh Howard, Dublin
I would recommend Gibson & Associates Solicitors to my family and friends. My solicitor kept me updated regularly and was courteous and professional at all times.
Kim Nolan, Dublin
Gibson & Associates is one of Ireland’s leading law firms. No matter your situation, our team will use their experience to make sure that you benefit from the best possible outcome.
We put our clients at the heart of everything we do and work tirelessly to get the best results.
We treat clients and each other the way we’d like to be treated and for us “good enough” just isn’t good enough!
When you make contact with our team, you’ll hear back from us within 3 hours or less – that’s our promise.
We don’t try to impress with “legalese” and jargon. We use clear, plain language.
The person responsible for your case will never change. You’ll be assigned a dedicated point of contact who will take charge of your case from start to finish.
At Gibson & Associates, we’re clear about our processes and transparent when it comes to costs. Before progressing any case, we offer a no-obligation consultation with our client care team and will provide you with practical options. Integrity and transparency are core to how we work with all of our clients and means we’ll always treat your case as if it was our own.