Consumer & Debt Law
Bankruptcy and personal insolvency in Ireland are legal routes for individuals who cannot pay their debts as they fall due. This is the Irish equivalent of a debtor seeking a fresh start, and it applies when debts have become unsustainable and informal arrangements with creditors are not working. The main options under the Personal Insolvency Act 2012 are a Debt Relief Notice for smaller debts, a Debt Settlement Arrangement for unsecured debts, and a Personal Insolvency Arrangement for secured and unsecured debts, which can help protect the family home. Bankruptcy in the High Court remains available where these are not suitable and now typically lasts one year. A solicitor, often working with a Personal Insolvency Practitioner, assesses which option fits your circumstances, explains the effect on your assets, home and credit record, and helps you deal with creditors and the courts. First steps are to list all debts, income, assets and outgoings, stop ignoring creditor correspondence, and take advice early, because acting sooner usually preserves more options and better protects your home. We also advise on defending enforcement action and on rebuilding after insolvency. We also advise on defending enforcement action such as judgment mortgages and repossession, and on rebuilding your finances and credit standing after an insolvency solution has concluded.
