A creditor may petition for bankruptcy against a debtor where the debtor has committed an act of bankruptcy within the previous three months. The most common acts of bankruptcy relied upon by a creditor are:

For a creditor to be entitled to petition the court to make a debtor bankrupt, a number of conditions must be met. These include :

• the petition must be presented within three months of the act of bankruptcy,
• the amount of debt owed must be set out in an affidavit,
• the debt owed must be at least €1,900.00,
• the debtor must be either resident in the State or within a year prior to presentation of the petition, have ordinarily resided, had a dwelling house or place of business, or carried on business within the State.

The creditor's petition must state whether any security (for example, a mortgage or a charge) is held by them in respect of the debt. If so, the creditor must indicate whether he/she intends to give up the security for the benefit of other creditors orput a value on their security.

Contact the Debt Advice Team

Free Phone – 1-800-550-330