The Oireachtas justice committee has recommended that the bankruptcy term should be cut from three years to one year. The move puts pressure on the Coalition to act on the issue as its previous move to reduce it to three years from 12 years was widely criticised as not going far enough. The justice committee also left open the option for some bankruptcies to be extended to three years.
Articles tagged with: bankruptcy
These are the top 5 questions asked by clients when considering Bankruptcy:
Myth 1: “Bankruptcy can’t save your home from repossession…”
You may not necessarily lose your family home in bankruptcy. You may be able to agree a schedule of mortgage payments with your bank and the Official Assignee, where such payments are within the Reasonable Living Expenses approved by him.