Matthew Moore
Registered User
- Messages
- 286
You have a valid point, but it may not just be the cost of getting the bankruptcy order I am referring to. You are having to live on allowances for three years which are very tough. All extra money goes to your creditors. Then there is the potential 5 year income payments agreement. For some people this all needs to be factored in.
I accept that this is not all clear, but costs are sometimes more than the initial fee
Steve Thatcher
Do they have published living expenses in the uk like we have here?
I know the accommodation would vary greatly depending on area but I'd imagine food, clothing, transport allowances are the same everywhere.
The OA has said he would like people to enter the income payments agreemnets as early as possible therefore the majority of it should be when you are in the bankruptcy. Is this the same in the uk?
I think an updated comparison of Irl -v- uk costs and allowances would be a great idea now that we have a bit more of an idea how this side works. I think I read an excellent comparison you did before but it was based on the old system.
Bronte, how do you quantify these costs?
Steve Thatcher
there is the €250+vat that mortgage lenders will pay for you to meet a accountant for financial advice.
No I haven't done it yet, I wasn't aware of it until recently. I will make use of it if there is something I'm unsure of. I wouldn't agree that it's hare brained in theory. If people were being asked to make serious decisions without any access to professional advice there would be uproar and rightly so. I can't comment whether the advice they give is appropriate or worthwhile. I read somewhere recently that less than 1% of applicable people have availed of it.Did you go down that route? Personally I thought that option was one of the more hare brained schemes that is designed not to solve anything but to create money for professionals. And I believe the take up response has been abysmal.
. I can't comment whether the advice they give is appropriate or worthwhile.
There's the rub, they cannot give you any advice.
No it's not Pat. The bank gives you options, your accountant may explain the options to you, but he cannot give you any advice or suggest you negotiate or refuse the banks options.
It's a total nonsense, we debated it here on AAM ages ago.
It is being reviewed with a proposal to expand the scope of the service:
http://www.welfare.ie/en/downloads/MAIAS-Review-Report.pdf
Why didn't they just copy British law word for word, and set up a similar service that is easily accessible and cheap, and one that actually works.
Because the PIA is the first legislation in the world which facilitates the insolvent person retaining their family home.
And why did we do it differently? Does it make sense?
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