How to Declare Yourself Bankrupt in Ireland

Bankruptcy laws in Ireland are a little different than they are in the United States and the United Kingdom. When a creditor decides that you will not be able to pay back your debt in any reasonable amount of time, it will request that the court serve you with what's called a "bankruptcy summons." This summons requires you to pay your debt to the creditor within 14 days of receiving the notice. It is at this time you can petition the court to grant you bankruptcy protection from your creditors. If the court and your creditors approve the petition, the court will then take over handling your bankruptcy and counsel will be appointed for you.

Step 1

File a petition with the court. You must receive a bankruptcy summons from at least one creditor to do this. If at least three-fifths of your creditors accept the petition for at least three-fifths of the debt owed to them, then all creditors must accept, and the court will then grant you protection from creditors.

Step 2

Turn over any requested property and/or documents to the official assignee appointed to you by the court. The court will require you to declare your assets to them and will appoint a person called an "official assignee" to collect your assets from you and to handle your case during this process.

Step 3

Follow the instructions given to you by the court to pay off your debt. Based on the circumstances of your debt, the court will give you specific instructions for how you must repay money owed. Once you have paid off your debt, you can reclaim your assets from your official assignee.