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As such, our team of Dublin bankruptcy solicitors are more than suitably qualified to advise if it’s an appropriate solution for you.
Furthermore, should you decide to engage our service, we can ensure that your case is handled responsibly.
Guide to filing for bankruptcy
Anthony Joyce Principal & Notary Public
Joe Gavin Solicitor, Personal Insolvency
Changes to the bankruptcy act
Anthony Joyce & Co. are a long standing voice in bankruptcy in Ireland and that is in no small part thanks to our namesake who has been on record since 2009 in calling for realistic updates to the system.
Thankfully, Bankruptcy in Ireland changed when the Bankruptcy (Amendment) Act 2015, was signed into law by President Michael D. Higgins on Christmas Day, 25 December 2015.
The Act is now the tip of the arrow of an arsenal of insolvency solutions to free debtors from their creditors. However, it also punishes any debtors who seek to “game the system.”
The main changes in the Act from when Minister for Justice and Equality, Frances Fitzgerald TD signed the commencement order on Friday 29th January 2016 are as follows:
Reducing the normal duration of bankruptcy in Ireland from 3 years to 1 year (up to December 2013 it was 12 years).
Returning ownership of the bankrupt person’s home to them after 3 years (subject to any outstanding mortgage) unless it must be sold to pay creditors.
Reducing the maximum duration of bankruptcy payment orders from 5 years to 3 years, except in cases of non-co-operation or concealment of assets.
Extending the duration of bankruptcy in cases of non-co-operation or concealment. Streamlining and clarifying the processes of bankruptcy in Ireland.
While these changes are very welcome, unfortunately we still have a huge insolvency overhang in Ireland and this drag on the economy will remain a live issue for many years to come no matter what government we have.
The bankruptcy solicitors at Anthony Joyce aren’t just committed to calling for further changes in the law, but most importantly, are committed to helping you find a satisfactory resolution within the system.
Our team of Dublin bankruptcy solicitors are communicative and passionate, so when you decide to work out a bankruptcy with us, you’ll understand exactly what’s happening each step along the way, and be able to make informed and well educated decisions.
