Bankruptcy Services

Bankruptcy Can Be The Smartest Way Forward.

For some, it’s the last resort. For others, it’s the cleanest, fastest route to financial recovery. If you’re considering bankruptcy, we’ll guide you through it — expertly, respectfully, and with no judgment.

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When Is BankruptcyThe Right Option?

Bankruptcy is often seen as a worst-case scenario — but that’s not always true.

At Alan McGee & Co., we help people explore all available insolvency solutions — and when bankruptcy is the right option, we guide clients through the entire process from start to finish.

Bankruptcy may be appropriate if:

Your debts are too large to repay through a PIA or DSA
You have little or no disposable income to make ongoing repayments
You’ve already explored other options without success
You want to make a clean break and start again

We’ll help you assess your situation, understand the implications, and make the right choice.

Take Control of Your Debt

What Is Bankruptcy?

Bankruptcy is a legal process in which a person who cannot pay their debts has them legally written off. In most cases, bankruptcy in Ireland lasts for 12 months, after which you are discharged and free from your debts.

Once bankruptcy is complete:

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You are no longer liable for most debts

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Creditors must stop pursuing you

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You can rebuild your financial life

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You can move forward without fear, shame, or uncertainty

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What Happens To My Assets?

If you declare bankruptcy, certain assets may be sold to help repay creditors. However:

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You may be able to keep your home, depending on your equity and circumstances

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You are allowed to retain a reasonable standard of living

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We will help you minimise disruption and protect what matters most

Alan McGee is both a solicitor and Personal Insolvency Practitioner, which means you’ll receive expert legal advice and strategic financial guidance — all under one roof.

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How The Process Works.

Initial Consultation

We review your financial situation and explore alternatives.

We Prepare Your Bankruptcy Application

If it’s the best option, we prepare and submit all legal paperwork.

Court Hearing & Adjudication

We represent you at court and guide you through every step.

Official Assignee Takes Over

Your assets are managed by the state’s Official Assignee for 12 months.

You Are Discharged

After 12 months, your bankruptcy ends — and you begin again, debt-free.

Frequently Asked Questions

Bankruptcy FAQ’s

What does it mean to be declared bankrupt?

When you are declared bankrupt, your property and possessions are transferred to a person called the Official Assignee. They then arrange for those items to be sold and the money generated from the sale is distributed to the people you owe money to (your creditors).

Do I have to deal with my creditors?

No, the Official Assignee will deal with your creditors for you, so this will put an end to any demands for unpaid debt – no more calls, letters or visits.

Am I entitled to a reasonable standard of living?

Yes, you are entitled to have a reasonable standard of living. This includes food, clothing, education, healthcare and a modest allowance for savings. Under the ISI model, this means a higher standard than merely living at a subsistence level, which people often exist on when in debt.

What type of debt could be included in a bankruptcy?

Unsecured and secured debt such as mortgages for family homes or buy-to-let properties, business loans and credit card loans can be included in your bankruptcy. Examples of debt that cannot be included would be court fines in respect of criminal offences, or any new debts you accumulate after the date you are made bankrupt.

What are the consequences of bankruptcy? For example, what happens to my family home and other assets?

In bankruptcy, all assets including your interest or share in the family home will transfer to the Official Assignee. While it is a possibility, you should not assume you will lose your family home in bankruptcy.

How long does bankruptcy last?

Usually, after one year you will be discharged from bankruptcy and all of your debts will be written off. You should then be solvent and able to regain some financial independence.

For detailed information, and access to the ISI Bankruptcy guide, please follow this link.

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Why Choose Alan McGee & Co.

We combine legal and insolvency expertise

Bankruptcy involves both financial and legal issues — we’re equipped to handle both.

Straight-talking advice — no judgment

We understand the emotional weight of debt. You’ll get clear, honest advice — not shame or confusion.

Led by a recognised expert

Alan McGee has personally handled hundreds of insolvency cases — and literally wrote the book on Irish insolvency law.

You’re not alone

We’ve helped many clients through bankruptcy with dignity, clarity, and compassion.

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Your Next Step

If bankruptcy feels like your only option, you’re not alone — and you’re not beyond help.

We’ll give you honest, expert advice on whether it’s the right path for you — and support you every step of the way.



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