New insolvency provisions eliminate need for solicitor or barrister

Lorcan O'Connor (right)

The head of the insolvency service has said people applying for bankruptcy under the new Insolvency provisions will not need to hire a solicitor or barrister to go to court.

Lorcan O'Connor has been appearing before the Oireachtas Committee on Finance this afternoon.

He said that he expects the service to be up-and-running by next month - with the first debt-relief notice applying from September.

Mr O'Connor said that filing for bankruptcy will cost less than €750.

"If they choose to go bankrupt the only direct costs that they face would be an application to the courts of €650 and a stamp duty fee of what I believe to be €90 or €100," he said.

"So that is the costs they will face on the day they apply for bankruptcy they don't require a barrister or a solicitor to do any lengthy submissions."

Most Read in Ireland