New online bankruptcy in UK working a treat

Steve Thatcher

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Hello people. It's been a while since I posted on here.
I hope your new bankruptcy system is working well for you all.

I am still getting enquiries, but in the main I tell people to stay in Ireland and refer them where I can to IMHO.

I am getting a lot of calls though from those here.

Going bankrupt here now is even easier.

I have taken four cases through in the last three weeks.

In two cases the orders were made within days without any further reference.

In two cases all that has been additionally required is an email with scanned copies of a lease and bank statements and utility bills and wage slips attached.

Once done, the order is then made within 24 hours.

It is brilliant being able to do this without having to go to court.

I thoroughly recommend it to any Irish living in England and Wales.
 
Hi Steve,
I don't doubt your expertise and the fact you help people in real need, but somehow I read the post as " hey, it's even easier than ever to walk away from your responsibilities" it's only short of having the Ryanair trumpet soundings.

I hope it's not too easy, and only genuine cases are successful. I hear from enough boasting about "I done a deal with the bank but can't disclose blah blah, with a wink and a smile" and the same Merc and holidays in abundant.
It's not sour grapes, just weary of the strategic defaulters having a laugh.
 
Hi LS400

I think that you are being a bit hard on Steve. During the "dark years" Steve Thatcher, Anthony Joyce and a few others (David Hall,
Jim Stafford etc) came up with options and hope for people struggling with seemingly unresolvable debt. In extreme cases the debt led to
suicide. The stories were in the national press, you just had to read between the lines. But the despair was ruining lives and society.

Strategic defaulting and bankruptcy are two different things. A strategic defaulter deliberately doesn't pay debts that they are
capable of paying. A bankrupt, by definition, is unable to pay their debts and upon entering formal bankruptcy is subject to scrutiny
by the Insolvency Service of Ireland or The Insolvency Service (of England and Wales).

Bankruptcy is not an easy option, just read some of the threads on AAM (and MSE in the UK). But it does resolve a situation, provide clarity for the creditors, and provide a mechanism for returning the individual to solvency thus letting them make a contribution once more to society.

The online system in England and Wales? Yet again England and Wales have taken the lead with solutions. This time it is an online system
for debtors petitions that is both efficient and rigorous, all at once. Meanwhile, back in Ireland, the High Court is tied up every Monday
with debtors petitions.

To sum up, bankruptcy is not an easy option to choose. Steve merely appears to be excited that he is able to help his clients navigate
the new system, and not have the stress of going before a judge at what is already a very stressful time.
 
Good post Tlo,
I probably have just been hardened through out the years..
 
Like Jim said Bankruptcy is not an easy option however, it is a fresh new start!
 
I think of it now as "applying for bankruptcy protection" as opposed to "declaring bankruptcy". For us, it was protection and new found security after years of dread and guilt/shame. The biggest step was moving to the UK, but that's worked out really well for us. So it can be a positive thing. I'm speaking from recent experience!

I don't feel guilty: we sold everything we had to pay our debts, including our family home. There was nothing left to give and I thought a lifetime of handing over everything above a poverty level of income was not a life worth living. Why not just go on the dole? So we moved to the UK and got a fresh start. I would have preferred to stay in Ireland but the Irish system is just, well, too Irish :)
 
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