Bankruptcy: What Happens To The Family Home

bankruptcy family home
Will I Lose My Home? Bankruptcy does not mean definitely losing your family home. If the family home is mortgaged, then in real terms, the bank owns the family home until the mortgage is repaid. The bank may choose to keep the property outside the bankruptcy process and enter into an arrangement with you which
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What Is Bankruptcy?

What Is Bankruptcy Lynch Solicitors
Bankruptcy – What of It?! Being declared bankrupt can seem a very daunting process, there is often a lot of uncertainty around how the system works and what you are and are not allowed to do. In this blog, we ask ‘What is Bankruptcy ?’ and answer some of the most common questions relating to
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Debt Management & Facing The Problem

debt management
As we continue our New Years Legal resolutions for 2020, one issue which people may feel forced to face is debt.  Debt management and facing up to the problem is the first step in resolving the issue. However, it is often difficult to face the burden of debt and to know where or who to
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What Happens Your Family Home in Bankruptcy?

Family Home in Bankruptcy
What happens to the family home in bankruptcy? This is a very emotive issue and one that we are frequently asked when dealing with bankruptcy issues.  This blog looks at the issue and answers the most commonly asked questions.
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Pension’s in Bankruptcy Proceedings – A review of recent case law

What happens to a person’s pension is always a matter for concern when they get into financial difficulties. This can be further complicated by financial difficulties which might result in bankruptcy. When someone goes into bankruptcy, as a general rule, all assets owned by the bankrupt vest in the Official Assignee in Bankruptcy. As a
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Family Home in Bankruptcy Proceedings

Family Home in Bankruptcy
The position of the family home in Bankruptcy is that while the Lender has options under the legislation they invariably keep the family home out of bankruptcy.
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Loss of tracker led to home seizures of at least 15 Ulster Bank Customers

At least 15 homeowners, who were customers with Ulster Bank, had their homes seized when they failed to make repayments due to being switched, incorrectly, off their Tracker Mortgage Rates. RTE News reports that Ulster Bank will tell the Oireachtas Finance Committee today of the details and that the actual number of customers who have lost
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Bankruptcy Boom: Increase in numbers applying

The new ‘one year bankruptcy ’ continues to be an appealing alternative for those struggling with unsustainable debt as some 552 people are projected to be adjudicated bankrupt this year according to the latest figures from the Insolvency Service of Ireland. A total of €776 million is the estimated debt that will be included in
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Is Tomorrow another Day: Warehousing of Debt – cause or a cure?

Procrastination – always a tempting option, rarely the right choice. The warehousing of debt is a popular option put out there by Creditors for those desperate to emerge from unsustainable debt. Delaying payment of a large percentage of a mortgage, car loan or credit card debt may seem appealing in the present but leaves the
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Before I go Bankrupt – How the law views transactions prior to bankruptcy

Can transactions made prior to bankruptcy be set aside? Actions you take before declaring bankruptcy can be declared improper and set aside. Worse, if it is shown that you acted fraudulently, a criminal charge and jail time is a possibility. What is allowed and what is not allowed often comes down to interpretation and good
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