Family Home & Bankruptcy – A Comprehensive Guide
Thursday, 01 October 2020
While coverage of the recent changes to the Bankruptcy Laws has focused on the reduction of the bankruptcy term from three years to one year, a number of other amendments were made. These will have a serious effect on a person’s decision to file for bankruptcy. The role of the Official Assignee (who takes over
- Published in Bankruptcy & Insolvency
Bankruptcy: What Happens To The Family Home
Friday, 21 August 2020
Will I Lose My Home? Bankruptcy does not mean definitely losing your family home. If the family home is mortgaged, then in real terms, the bank owns the family home until the mortgage is repaid. The bank may choose to keep the property outside the bankruptcy process and enter into an arrangement with you which
- Published in Bankruptcy & Insolvency
What Happens Your Family Home in Bankruptcy?
Monday, 11 March 2019
What happens to the family home in bankruptcy? This is a very emotive issue and one that we are frequently asked when dealing with bankruptcy issues. This blog looks at the issue and answers the most commonly asked questions.
- Published in Bankruptcy & Insolvency
Family Home in Bankruptcy Proceedings
Thursday, 10 May 2018
The position of the family home in Bankruptcy is that while the Lender has options under the legislation they invariably keep the family home out of bankruptcy.
- Published in Bankruptcy & Insolvency
Before I go Bankrupt – How the law views transactions prior to bankruptcy
Wednesday, 30 March 2016
Can transactions made prior to bankruptcy be set aside? Actions you take before declaring bankruptcy can be declared improper and set aside. Worse, if it is shown that you acted fraudulently, a criminal charge and jail time is a possibility. What is allowed and what is not allowed often comes down to interpretation and good
- Published in Bankruptcy & Insolvency
The Family Home and Bankruptcy Part III: Protections for the Family Home
Tuesday, 29 March 2016
In two previous blogs (Part I & Part II) we have looked at the role of both the Official Assignee and the Bank in determining what happens to the family home in bankruptcy. Here we answer some common queries about the practicalities of what happens to the family home when bankruptcy is declared and the
- Published in Bankruptcy & Insolvency
The Family Home and Bankruptcy Part II: The Role of the Bank
Tuesday, 29 March 2016
Can the bank take my family home in bankruptcy? Losing your family home in bankruptcy is not a certainty and may not even be likely depending on your circumstances. Bankruptcy does not equal definitely losing your family home. If the family home is mortgaged, then in practice, the bank owns the family home until the mortgage
- Published in Bankruptcy & Insolvency
The Family Home and Bankruptcy Part I: The role of the Official Assignee
Thursday, 03 March 2016
While coverage of the recent changes to the Bankruptcy Laws has focused on the reduction of the bankruptcy term from three years to one year, a number of other amendments were made. These will have a serious effect on a person’s decision to file for bankruptcy. The role of the Official Assignee (who takes over
- Published in Bankruptcy & Insolvency
One Year Bankruptcy
Friday, 29 January 2016
One year bankruptcy is now a reality in Ireland after the Bankruptcy (Amendment) Act 2015 was brought into law by a commencement order on Friday, January 29th 2016. The commencement order reduced the normal duration of bankruptcy from three years to one year bankruptcy. A fundamental shift in attitudes In a press release on Friday, January
- Published in Bankruptcy & Insolvency
