Bankruptcy is a formal insolvency option of last resort to deal with debts over €20,000. The High Court will decide, and you may be able to write off (cancel) the debt.
During the bankruptcy process all assets, including your share in the family home, and other property and possessions are transferred to a court official called the Official Assignee.
They then arrange for your assets to be sold and for the money to be shared between your creditors.
While it is possible, you should not assume you will lose your family home in bankruptcy.
The Official Assignee will deal with your creditors for you, so this will put an end to any demands for unpaid debt. This means no more stressful calls, letters or visits from your creditors.
You apply to the Examiner’s Office in the High Court and attend Court on the date your application is listed. Once your bankruptcy is granted, you then deal with the Official Assignee, who will deal with your property and creditors.
There are a number of restrictions and terms that apply for the period you are bankrupt.
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.
Bankruptcy normally lasts for 1 year. 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.
Information about bankruptcy
A PDF with an in-depth look at bankruptcy in Ireland
After you are made bankrupt
PDF showing your options after you have been made bankrupt
Insolvency Service of Ireland guide to bankruptcy
Detailed guide from the Insolvency Service of Ireland
Bankruptcy scenarios
Case studies and examples of bankruptcies in Ireland
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 provided to ISI staff on the day of adjudication in Court are;
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, that is, debtor's name)
You should email the Bankruptcy Division at bankruptcy@isi.gov.ie to confirm your lodgement and attach a scanned copy of the 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, that is, Bankruptcy Case Reference Number, for example, B0200
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 Division at bankruptcy@isi.gov.ie