The story of an Irish bankrupt in Scotland

Congratulations

Hi there IB2013,

Whilst considering Scottish Bankruptcy, I only found your blog today - one day after your final post in Scotland.
Congratulations and Fáilte Abhaile.

TrueBlue
 
TrueBlue said:
Hi there IB2013,

Whilst considering Scottish Bankruptcy, I only found your blog today - one day after your final post in Scotland.
Congratulations and Fáilte Abhaile.

TrueBlue
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Thanks very much, tá sé thar a bheith iontach bheith ar ais in Éirinn.

Delighted to be home. Even though the blog isn't in real time it's still a fantastic feeling as I recall the day I flew back. The boarding pass is pinned to the wall above my desk as I write this!
I hope the blog will be of some use to you as you consider your options. I'd suggest you read through some of the early posts re setting up COMI etc as they will be relevant to your situation. I will keep it running till I am completely out the far side as I think people need to be reading about bankruptcy from the horses mouth. However I am anxious that it doesn't outlive its usefulness.
If there's anything you need to ask me, please feel free to do so. Good luck with everything.

[broken link removed]
 
Thanks for sharing IB2013 and welcome home. I have enjoyed reading your blog so far as you have a talent for writing well. It will be interesting to follow your experience and whether there are any particular or unexpected consequences in being in Ireland while bankrupted under the Scottish system.
 
Thanks very much. I intend to keep the blog going until I am discharged precisely for this reason. I have no idea what the practical implications will be as nobody is 100% certain of what happens next.

For example, will the bankruptcy show on an Irish credit check? Will I be able to open an account with a bank I used to have an account with? I have no desire to borrow money but out of curiosity I will enquire about a credit card/ overdraft to see what the reaction is.

Hopefully this will continue to be of assistance to others who are where I was in 2013. Finally, thanks for the PM, it's food for thought!

[broken link removed]
 
Delighted to read you've returned home. Hope it's not the end of the blog as it's a very useful resource for those of us who are following on the same road.
I was just wondering if you've tried to open an Irish bank account since you returned home?
I'm hoping to do this asap so would like to know how you got on if you tried to do this. Thanks
 
You speak of people contacting you daily for help and how you gladly give it. I think you should ensure you are giving the correct information. There is a paragraph on your blog on this page which is completely incorrect: [broken link removed]
"In particular I had no problems in deciphering both the meaning and the implications of Section 105 (a) which said that a proposed Personal Insolvency Legislation shall only be approved where “a majority of creditors representing not less than 65 percent in value of the total of the debtor’s debts due to the creditors participating in the meeting and voting have voted in favour of the proposal.” In other words a large creditor has the power to veto your application to be declared bankrupt in Ireland."

This is completely untrue. They have no veto in bankruptcy, exactly like in the UK. Please don't give struggling people false information.
 
Leinster 70 – I have not tried to open an Irish bank account and will not be doing so until I am discharged. As soon as I do I will update you.

Pat2 – Your post necessitates a few comments from me.

Firstly any help I am giving through the contact section of my blog relates to Scottish bankruptcy as this is the system I am currently going through. I will leave commentary on the Irish system to people such as yourself who said on the second post of this thread that you are going through the Irish system. Perhaps you could share your personal experiences with us as I would be interested to hear from someone who has taken on the Irish system.

Secondly – you omitted a line from my blog. It is as follows:
“During the summer of 2012 when the bill was being drafted and I knew I was in serious financial trouble I went online and downloaded the draft bill.”
Therefore I was commenting on the draft legislation and not the final bill. By way of fairness the preceding line should have read “Personal Insolvency Arrangement” and not “Personal Insolvency Legislation”. This has now been corrected and thank you for pointing it out.

The point I was making was the fact there was a veto anywhere in the legislation meant, in my opinion that the cards were stacked against the debtor. The fact that 4 people availed of PIAs in the first quarter of 2014 shows that others think likewise.

As ‘Time’ says, they cannot veto a bankrupt but the timescale required in Ireland compared to Scotland made it a ‘no contest’.

Finally, I am curious as to why you do not use the comments section of my blog when commenting on a post as others do.

Hope you are all enjoying the bank holiday.

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I think Pat's point, to be fair, is that a creditor cannot veto the application by a debtor to be declared bankrupt. Your blog still says that they can. That was never the case under the old system and is not the case under the new. The PIA presents an alternative to bankruptcy and 65% of voting creditors have to support it; but it is not bankruptcy.
 
DebtCert If you check the blog post again, you will see that it has been changed [broken link removed]

The point I was trying to make that having studied the DRAFT legislation, the notion of a Veto was mentioned in the context of a PIA. Whilst it didn't appear in relation to bankruptcy, I had no idea if it would be introduced into the final bill.

By the time the final bill was passed I had made my move and was in Scotland.
 
IB2013 said:
Pat2 – Your post necessitates a few comments from me.

Firstly any help I am giving through the contact section of my blog relates to Scottish bankruptcy as this is the system I am currently going through. I will leave commentary on the Irish system to people such as yourself who said on the second post of this thread that you are going through the Irish system. Perhaps you could share your personal experiences with us as I would be interested to hear from someone who has taken on the Irish system.
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You are entitled to comment on any system you like and I was pointing out that your commentary on the Irish system was wrong.
I have been very open about my experiences of Irish bankruptcy so far and will gladly answer any questions you may have. Alternatively, you can find all my posts here:

IB2013 said:
Secondly – you omitted a line from my blog. It is as follows:
“During the summer of 2012 when the bill was being drafted and I knew I was in serious financial trouble I went online and downloaded the draft bill.”
Therefore I was commenting on the draft legislation and not the final bill. By way of fairness the preceding line should have read “Personal Insolvency Arrangement” and not “Personal Insolvency Legislation”. This has now been corrected and thank you for pointing it out.

The point I was making was the fact there was a veto anywhere in the legislation meant, in my opinion that the cards were stacked against the debtor. The fact that 4 people availed of PIAs in the first quarter of 2014 shows that others think likewise.

As ‘Time’ says, they cannot veto a bankrupt but the timescale required in Ireland compared to Scotland made it a ‘no contest’.
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You are not comparing like with like. You are comparing Scottish bankruptcy with an Irish PIA. I don't know about Scotland but in England the closet thing to a PIA is a IVA, basically a deal with creditors outside of bankruptcy. Yes in Ireland there is a a facility for a veto but if you compare like with like in a UK IVA secured creditors have to opt in(they rarely do) so this in effect gives them a veto.

IB2013 said:
Finally, I am curious as to why you do not use the comments section of my blog when commenting on a post as others do.
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I can't see how I can leave a comment on that blog post. I would of used that option if available.
 
In order to clarify any ambiguity that arose from my earlier comments, I have just posted on my blog in relation to my decision to opt for bankruptcy in Scotland instead of doing so in Ireland. [broken link removed]
Hopefully this will clear up any misunderstandings.

Pat2 - at the top of my home page, there is a button called 'About Me'. Comments are posted at the bottom of this page.
 
Pat2 - at the top of my home page, there is a button called 'About Me'. Comments are posted at the bottom of this page.
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Pat was not alone. I also was interested in leaving some comments on a couple of posts but didn't know how to!!
 
Still reading the weekly updated new blogs from Irishbankrupt. He has an interesting link to the Irish Property Price register this week [broken link removed]
 
Thanks once again for all of your advice. It was invaluable in seeing me through the process.
I have received my award of bankruptcy and am now counting the days till I too am back in Ireland.
I can honestly say that bankrupting myself in Scotland has been the best move I've made in years.
That said, I can't wait to get home!
 
How did you find te process in Scotland and would you recommend it to others. I am about to move to the UK in three weeks time and start setting up my COMI but am still undecided on England v Scotland. Maybe the Scots will be too busy with their referendum to take too much notice of us Irish immigrants. Best of luck with your next twelve months (less two weeks). I don't see any recent posts here from IB2013 - maybe he is past the winning post by now
 
arcamsolo said:
How did you find te process in Scotland and would you recommend it to others. I am about to move to the UK in three weeks time and start setting up my COMI but am still undecided on England v Scotland. Maybe the Scots will be too busy with their referendum to take too much notice of us Irish immigrants. Best of luck with your next twelve months (less two weeks). I don't see any recent posts here from IB2013 - maybe he is past the winning post by now
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I believe there are some changes coming for the Scottish system, not sure if for better or worse so make sure you get good advice before you make up your mind.
http://www.mondaq.com/x/307764/Inso...lished+To+Reform+Scottish+Personal+Bankruptcy
 
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