Bankruptcy Law is a new service that Hughes Murphy is offering to our clients. Bankruptcy is a legal process where an individual or organisation is declared unable to pay its Creditors. In modern life, many people across Ireland are facing debt problems. Difficulties in repaying debt can arise from a number of different reasons. Income may be reduced because of redundancy, bereavement or a career change. It may simply be that you have taken on too much credit.
How do you become Bankrupt?
There are two ways to become bankrupt: You can Petition for your own Bankruptcy or one of your creditors (people you owe money to) may petition for your bankruptcy. Bankruptcy enables individuals to make a fresh start and also protects certain assets from creditors such as future inheritances and pensions. The pressure of being in debt can be overwhelming. It can sometimes make you feel that you do not have control.
How can Hughes Murphy help?
Hughes Murphy are Bankruptcy Solicitors who can advise you on the next step to take, for whatever specific financial situation you find yourself in. We have experience in defending bankruptcy, defending claims for possession and sale, bankruptcy petitions, we can advise you on whether it is appropriate to take steps to make yourself bankrupt, we can guide you and your family through the entire bankruptcy process and much more.