Moneymakeover Bankruptcy

[Trixxx]

Hello

My dad is aged 73 and has lost his Derelict House to the council, his Solicitor fee is close to 30 000 euros , he also owes money to his electricity and to his land lord he also has no assets apart from the Derelict house , i was wondering is declaring bankruptcy an option for my dad at 73 and does it cost much to apply

 

[Persia]

My dad is aged 73 and has lost his Derelict House to the council, his Solicitor fee is close to 30 000 euros ,

How did he lose the house to the council and what are these sols fees relating to?

 

[Trixxx]

the house was falling down , the council put in a compulsory purchase order and is now going for compulsory acquisition. the sol fees are regarding the house

 

[tallpaul]

So he hasn’t “lost” the house. Rather the Council are buying it off him? Surely the solicitor’s fees will come out of the sale. I’m also not sure how he racked up €30K in fees in the first place…

 

[Persia]

What was purchase price and selling price?

 

[ClubMan]

i was wondering is declaring bankruptcy an option for my dad at 73 and does it cost much to apply

Perhaps a PIA might be an option? But maybe not if all of his debts are unsecured?

Personal Insolvency Arrangements

People with secured debts who cannot pay their debts can apply for a Personal Insolvency Arrangement.

www.citizensinformation.ie

 

[Brendan Burgess]

You need to give all the information.

He has a derelict house.
but he also has a landlord
And what did he spend €30k legal fees on?

A first step might be MABS and they will put him in touch with an insolvency practitioner if they think it is appropriate.

But it sounds more like a psychological and health problem rather than a financial problem?