Level / Type of Debt Income Assets Required Intermediary
Bankruptcy Over € 20,000 / Secured and unsecured No Max No Max None*

*Whilst it is possible to apply for bankruptcy yourself, it is advisable to seek professional advice to assist you in the process.

 


What is bankruptcy?

Bankruptcy is a formal High Court insolvency solution for people in debt over €20,000. During the bankruptcy process, the ownership of the person’s property and possessions  transfer to the Official Assignee in Bankruptcy to be sold by him for the benefit of those to whom the individual owes debts (creditors).

When the person’s property is sold, the Official Assignee will make sure that the proceeds are shared out  among creditors and any outstanding debt will be written off. 

Bankruptcy applications

Bankruptcy proceedings are brought in the High Court. The application for a Bankruptcy Order is filed in the Office of the Examiner of the High Court. 
Bankruptcy normally lasts for 1 year.

Main consequences of Bankruptcy

More information

Information About Bankruptcy

After You Are Made Bankrupt

Bankruptcy guides

A comprehensive guide is available for download here:

Detailed Bankrupcty guide

Bankruptcy Scenarios 2016