Information on bankruptcy

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

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 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.

• All unsecured debts are written off
• Property and possessions transfers to the Official Assignee (except for essential assets up to a value of €6,000)
• Any surplus income (income less reasonable living expenses) must be contributed towards debts for up to 3 years
• If seeking credit above €650, a person must disclose that the are bankrupt
• Discharged from bankruptcy is normally after 1 year. However, this term could be shorter if settlement with creditors is reached but it could also be extended if a person does not fully cooperate with the process.

A comprehensive guide is available for download here:

Access the Bankruptcy Notice of Adjudications here.

Below are notes on the completion of bankruptcy forms for debtors who wish to have themselves adjudicated bankrupt. These notes have been produced by the ISI and are intended for interested insolvent debtors in relation to the form filling process involved in seeking to be adjudicated bankrupt.

Documents required to be filed in the Examiners Office of the High Court to seek bankruptcy are;

• Form 13 Petition including Affidavit of debt
• Form 15 Order of Adjudication
• Form 19 Notice of adjudication
• Form 23 Summary of Statement of Affairs (below) (Please note - an electronic version of form No. 23 Statement of Affairs is available on the Courts Service website which can be filled in electronically)
• Form 46 Warrant of Seizure (below)
• A letter from your PIP
• A receipt of Petition fee payment from ISI

These documents can be found on the Courts Service website by following this link

Documents required to be provided to ISI staff on the day of adjudication in Court are;

• Day 1 form
• A copy of Statement of Affairs
• Statement of Personal Information (below)
• A clear copy of photographic ID (passport/ driver's license)

Notes on filling out forms for bankruptcy

Below are notes on the completion of bankruptcy forms for debtors who wish to have themselves adjudicated bankrupt.

These notes have been produced by the ISI and are intended for interested insolvent debtors in relation to the form filling process involved in seeking to be adjudicated bankrupt.

Bank account details for the Official Assignee

Name & Address of Bank: Bank of Ireland, College Green, Dublin 2

NSC: 900017

A/C No: 83546518

IBAN: IE20 BOFI 9000 1783 5465 18

BIC: BOFIIE2D

Account Name: Official Assignee in Bankruptcy Holding a/c

Reference for Petition Fee Payments: (Please include a reference description for identification purposes i.e. debtor's Name)

You should email the Bankruptcy Division at bankruptcy@isi.gov.ie to confirm your lodgement and attach a scanned copy bank lodgement confirming your payment. We will then forward a receipt to you by email. You must produce this email receipt when issuing the petition at the Office of the Examiner of the High Court.

Reference for all other Payments: Please include our unique reference for identification purposes i.e. Bankruptcy Case Reference Number e.g. B0200

A list of common questions and their answers has been produced by the ISI. It is intended as a general, introductory, non-technical guide for insolvent debtors in relation to the availability of, and the processes involved in seeking bankruptcy.

If, after reading this guide, you require further information of a general nature, please consult the ISI website or contact the ISI’s office at bankruptcy@isi.gov.ie

If you wish to speak to a member of the bankruptcy team or if you wish to make an enquiry about bankruptcy; including the changes to the bankruptcy legislation and how bankruptcy might affect you, email the bankruptcy divison at bankruptcy@isi.gov.ie

All our information to help you if you are going through financial difficulty is available on the Back on Track website.