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.