Avoiding Bankruptcy

Avoiding bankruptcy thousands struggle financially every day – you are not alone! Talk to us about how we can help you get back on your feet.

Avoiding Bankruptcy

Many people interpret insolvency in the exact same way as bankruptcy, and while it is true that they can go hand-in-hand, they don’t have to.

Gibson & Associates personal insolvency solicitors are particularly skilled at handling insolvency so that you never have to declare bankruptcy, and can avoid having a creditor issue a bankruptcy order against you.

We help you to avoid bankruptcy with a combination of expert advice and guidance and a unique and pragmatic approach that helps you to solve the problems you are personally facing.

Common methods to avoid bankruptcy

Mortgage Write-Downs & Mortgage Write-Offs

If you are struggling to meet your mortgage repayments, we understand how worried you will be. The burden of financial debt is always extremely stressful, and this will be all the more troubling if your home could be repossessed.

However, there are ways to limit this debt, as it may be possible to obtain a mortgage write down or even a mortgage write-off.

Mortgage Write-Downs

If the sale of your home is not enough to cover the cost of your mortgage repayments, the debt will not automatically be forgotten about – you will still owe your bank or mortgage lender the outstanding sum of money.

Unfortunately, this problem is widespread in Ireland, as many homeowners have found themselves in negative equity. This has led to dire financial difficulties for a lot of households who have fallen into mortgage arrears, and yet are not able to generate enough capital from the sale of the property to climb out of debt.

But there are solutions available, one of which is a mortgage write down. This is when your mortgage lender agrees to write off part of your debt. You will then have to pay the outstanding amount, either as a lump sum, or through regular instalments.

A solicitor who specialises in personal insolvency will be able to make this request on your behalf, helping to reduce the value of your loan to a more manageable sum.

Mortgage Write-Offs

In some exceptional circumstances, it may even be possible to secure of mortgage write-off, where your mortgage debt is written off entirely. This is open to people who are in a difficult situation which is unlikely to improve in the future.

At Gibson & Associates, we can assist you with this application, collating the necessary evidence to prove that you are eligible for a mortgage write-off.

Debt Write-Downs & Debt Write-Offs

Debt write-downs and even debt write-offs can be an option for many individuals facing personal insolvency. Find out whether you could benefit from a debt write-down or debt write-off today by getting in touch with us at Gibson & Associates Solicitors.

Debt Write-Downs

Write-down debt is when your creditors (meaning the people you owe money to) agree to reduce the size of your debt. This may reduce the value of an asset, but at least it does not eliminate it entirely, as bankruptcy will do.

Furthermore, debt write-down limits the balance of your outstanding debt to a more manageable total. This can be paid as a lump sum or in regular instalments, depending upon the terms of the agreement.

As experts in personal insolvency solutions, we can request a debt write-down on your behalf, negotiating with your creditors to reach a mutually acceptable arrangement..

Debt Write-Offs

Alternatively, it may be possible to ask your creditors to write off your debt entirely. Debt write off in Ireland is a suitable option for those who are in a difficult situation that is not going to improve. This might include, for example, someone who has a very low income or who cannot work due to a medical condition.

Creditors often want an independent advisor to make a debt write off request on your behalf. A solicitor from our insolvency team can help you with this, collecting any evidence (such as medical evidence) that may be required and putting forward a strong case. If a debt write off is obtained, we will ensure the agreement is put in writing, protecting your position in the future.

What our clients say

Meet the team

Sharon Shaw

Megan McKeon

Kelly McLaughlin

What’s different about Gibson & Associates LLP Solicitors


Gibson & Associates LLP is one of Ireland’s leading law firms. No matter your situation, our team will use their experience to make sure that you benefit from the best possible outcome.


We put our clients at the heart of everything we do and work tirelessly to get the best results.

We treat clients and each other the way we’d like to be treated and for us “good enough” just isn’t good enough!


When you make contact with our team, you’ll hear back from us within 3 hours or less – that’s our promise.


We don’t try to impress with “legalese” and jargon.  We use clear, plain language.


The person responsible for your case will never change. You’ll be assigned a dedicated point of contact who will take charge of your case from start to finish.


At Gibson & Associates LLP, we’re clear about our processes and transparent when it comes to costs.

Before progressing any case, we offer a no-obligation consultation with our client care team and will provide you with practical options.

Integrity and transparency are core to how we work with all of our clients and means we’ll always treat your case as if it was our own.

Why Choose Gibson & Associates LLP?

We are one of Ireland’s leading law firms dedicated to using our years of experience to make sure that you benefit from the best possible outcome. We will be by your side throughout the process applying for Irish citizenship , using clear, plain language to explain your options and the next steps you should take.

You and your circumstances are unique – your solicitor should be too. You will be assigned a dedicated point of contact who will take charge of your case from start to finish – this person will never change.

Our solicitors put their clients at the heart of everything they do and work tirelessly to get you the best results. We treat clients the way we would like to be treated – for us, ‘good enough’ just isn’t good enough! Call us now on +353 (0)1 264 5555.