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Introduction

I am about to embark on a project that will change my life. The purpose of the project is to bankrupt myself in Scotland. The project will take approximately 16 months from start to finish and this blog will take you along the road with me. Declaring yourself bankrupt is a very topical debate in… Read More »

A Kindred Spirit

I was recently introduced to a man whose opening line to me was that we are two of the bravest and wisest men in Ireland. When I asked him why he said that he knew my story and had been following the blog. He then told me that he too had left the country to… Read More »

Tempus Fugit

At the outset of the blog I envisaged that it would take me 16 months from start to finish to complete the process of bankrupting myself. This was broken down as 4 weeks to set myself up with a bank account, address etc, plus 3 months in Scotland to build your COMI and complete the… Read More »

Being Angry

I was on the receiving end of a lecture recently from a well-meaning friend. Apparently I should be angry with Ireland. I should be angry that I needed to leave my family, friends and country behind for 9 months to spend the time in Scotland in order to personally bankrupt myself. I should be angry… Read More »

The Blog

When I decided to start this blog I had no idea how it would evolve. Although I read a lot I had never written anything before. As a schoolboy I dreaded writing essays. (In the Ireland of my childhood these were called compositions but apparently they have evolved into essays, in the same way that… Read More »

Decision

On the August Bank Holiday weekend of 2013 a very good friend of mine got married. It was a beautiful day, I was amongst friends, the sun shone and we all had fun. I am reminded of it as the happy couple have recently celebrated their first anniversary and when I cast my mind back… Read More »

A Car

I have started to think about the things I intend to do when I am discharged from bankruptcy. It helps get me through periods of stress and it’s always good to have light at the end of the tunnel. As I have mentioned previously, a huge part of bankruptcy is simply counting down the days… Read More »

Holiday Time

“Everybody needs a break, climb a mountain or jump in a lake.” It’s holiday time again and a lot of people are following Christy’s advice and taking a well-deserved break from the everyday grind. They look forward to a week or two away from their paymasters and try to use the time to recharge the… Read More »

The Ticking Clock

During the week when the ISI released its second quarter performance data, the Central Bank also published a research paper that looked at interest-only mortgages. These mortgages were taken out mainly on buy-to-let apartments by investors during the last decade. At a pre-determined time the mortgage was due to revert to full capital and interest… Read More »

The Insolvency Service of Ireland

The Insolvency Service of Ireland (ISI) has just released its performance statistics for the second quarter of this year. The bare statistics state that the number of PIAs agreed from April to June was 27, up from 5 in the first 3 months of the year. The number of Irish people who were declared bankrupt… Read More »

Tony O’Reilly

Like most Irish people I was stunned to hear the news that Tony O’Reilly had been described as “bankrupt” in court recently. It had previously been reported that the man has his financial worries, but who doesn’t? However, to hear that he is on the verge of losing everything is almost unbelievable. Although I suppose… Read More »