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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 […]

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 […]

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 […]

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 […]

A Summers Evening

I got a call from the brother telling me he was collecting me at 6.30pm sharp and that I’d better be ready. We both knew that being on time for a football match wouldn’t ever be a problem in our family. His young lad was playing an Under 16 semi-final and he had to drive […]

Fifty Cent

Do you ever think about fifty cents? By that I mean the coins. Apparently there is an American musician of sorts who goes by the same name. Had he grown up where I did he’d be known to one and all as Ten Bob. His speciality is rap music where you chant streams of words […]

Allied Irish Bank

Recently, I have found myself thinking a lot about AIB Bank. Maybe it’s because of all the talk of the banking enquiry or because the bank now reckons it is returning to profitability and can repay the money ploughed into the bank by the state to keep it afloat. Anyway, the focus of my thinking […]

A Property Bubble?

Since returning to Ireland I have been fascinated to read about the recent surge of activity in the Irish property market. The boom is getting boomier, to quote a phrase. We listen to breathless reports of young couples lining up in droves to view semi-detached houses in suburbia whilst grinning agents fumble at the greasy […]

A New Month

And so another month draws to a close of my 16 month bankruptcy project. (note for newer readers – I have always described it as a 16 month project as there’s a 4 month lead-in to get set up and establish your COMI, followed by the 12 months of your bankruptcy term) My year of […]

Ireland v Scotland

I posted a few weeks ago about the circumstances leading me to choose to bankrupt myself in Scotland rather than go through the process in Ireland. This has led to a number of queries that lead me to think that perhaps I didn’t explain the options or the alternatives properly. Hopefully this will clarify any […]

The Irish System

At various times in the past I have referred to the current Irish bankruptcy system and the ways in which it differs from the Scottish system. I said at the time that I would not pass judgement until the first tranche of cases had made their way through the courts and we had reliable statistics […]