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  Level / Type of Debt Income Assets Required Intermediary
Bankruptcy Over € 20,000 / Secured and unsecured No Max No Max None*

*Whilst it is possible to apply for bankruptcy yourself, it is advisable to seek professional advice to assist you in the process.


Bankruptcy is a process where the ownership of an insolvent person’s property transfers to the Official Assignee in Bankruptcy to be sold by him for the benefit of those to whom the individual owes debts (creditors).
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.  When the person’s property is sold, the Official Assignee will make sure that the proceeds are shared out fairly among creditors and any outstanding debt will be written off. 
Bankruptcy normally lasts for 1 year.


  • Your property transfers to the Official Assignee.
  • You have a duty to contribute from surplus income (income less reasonable living expenses) towards your debts for up to 3 years.
  • You are discharged from bankruptcy after 1 year.
  • All your unsecured debts are written off.


 Back on track Information about Bankruptcy cover Back on Track Information about Bankruptcy Guide 2016 (PDF size 235KB)  Adobe PDF

 Back on track Information After Bankruptcy cover Back On Track After you are made Bankrupt Guide 2016 (PDF size 135KB)   Adobe PDF


Information Note on the Commencement of the New Bankruptcy Act on 29 January 2016

Information Note on Commencement of New Bankruptcy Act on 29 January 2016 (PDF size 491KB)  Adobe PDF


Update to the Bankruptcy Guide

Revised Debtor's Guide to Bankruptcy on 29 January 2016 following the commencement of the new legislation.

A comprehensive guide is available for download here:

 Bankrutpcy 2015 cover Detailed Debtors Guide to Bankruptcy - revised June 2016


Scenarios revised to take into account the recent legislative amendments (November 2016).

 Bankruptcy Scenarios June 2016 (PDF 1,508KB) Bankruptcy Scenarios November 2016 (PDF size 1.13MB)   Adobe PDF