“I was just an ordinary PAYE worker, married with 4 kids all under the age of 12 years living in rented accommodation in Dublin. I, unfortunately owned two investment properties with associated mortgages of €515,000 and I could not afford the monthly payments.
“I also had Revenue taxes owed of €139,000 along with other debts of €46,342. Thanks to Prima Finance, they reviewed my circumstances and advised that bankruptcy was the best option for me given my individual circumstances. I was adjudicated bankrupt, the two investment properties were taken over by the Official Assignee and I became completely debt free. It was an amazing feeling afterwards, the five years of grief and hassle stopped, I and my family could once again get on with our lives.”
Before bankruptcy arrangements:
- €515,000 Investment Property mortgages
- €310,000 Total Value of Investment properties
- €139,000 + €46,000 Revenue Taxes owed + Other debts
After bankruptcy arrangements:
- Debt free
- Both properties were sold
have your say