Debt Relief Notice: Step 4
I have sent in my Statement of Affairs. What next?
Once your Approved Intermediary has received your Statement of Affairs, they will go through it to assess your eligibility based on the information you have sent. If they need more information, your Approved Intermediary will contact you to ask for it. If they have everything they need, your Approved Intermediary will confirm the date of your next appointment with them.
At this next appointment, your Approved Intermediary will give you details about their assessment of your Statement of Affairs. They will discuss anything that might need a bit more information or anything that might need to be cleared up before your application can go ahead. They will also tell you more about the effect of getting a Debt Relief Notice – the conditions that will apply to you and your creditors for 3 years after your Debt Relief Notice issues and the reasons why your creditors might object to the Debt Relief Notice during this time. Your Approved Intermediary will talk to you about any other options that might be available, to make sure that you are making the right decision for you. You will be told about the offences and outcome of being found to have committed an offence once you have a Debt Relief Notice and you will be asked to sign a form allowing the Approved Intermediary to give the Insolvency Service your personal information to make the application for you.
If you still want to go ahead with an application for a Debt Relief Notice at the end of this meeting, your Approved Intermediary will ask you to sign what is called a ‘Letter of Engagement’. This is a letter setting out the terms of your application and will be fully explained to you by the Approved Intermediary. You can sign it either at the meeting or, if you would like to have a think about it, you can return it within 14 days.
When the Approved Intermediary gets your signed Letter of Engagement, they will send a letter to each of your creditors asking for an up-to-date balance owing on your account so that they can use this amount in your application. If there is a big difference between the amount you think you owe and the amount your creditor thinks you owe, your Approved Intermediary will give you a call to discuss.
About 3 weeks after this letter has been sent, you will have another meeting with your Approved Intermediary. This is the day your application will be sent to the Insolvency Service. Your Approved Intermediary will go through eligibility with you again to make sure that nothing has changed from the last time you spoke. They will remind you of the effects of a Debt Relief Notice and of committing any of the offences. You will then be asked to sign some forms that are needed for your application. Your Approved Intermediary will explain each form before you are asked to sign it. If you have any questions, don’t be afraid to ask, your Approved Intermediary is there to help.
You will then be asked to have one of these forms signed in front of a solicitor, peace commissioner or commissioner for oaths and come back with it to your Approved Intermediary. There may be a fee for signing this that should be no more than €14.
When your Approved Intermediary has everything, they will send your application to the Insolvency Service who will check to make sure that everything has been filled in properly. The Insolvency Service will then send the application to the court who will decide if it is successful or not. You do not have to attend the court hearing.
If your application has been successful, your Approved Intermediary will let you know and the Insolvency Service will write to you, giving you a copy of the court order and a list of the conditions that you must follow for the next 3 years. Your name will also be put on a public register on the Insolvency Service website, www.isi.gov.ie.
- Write down any questions you have for your Approved Intermediary and bring these to the meetings
- If you have any savings or overdraft accounts, print out a receipt on the morning of your application and bring it to the meeting with your Approved Intermediary
- If you get any new letters from your creditors, bring these to your meetings too
- Before the application date, contact a local solicitor or peace commissioner or commissioner for oaths and make an appointment with them to have a form sworn
- Make sure you have €14 on the day of your application