Thanks for all the help and advice. I've been looking for information over the past day or so but can't find a solid answer. I know that a UK bankruptcy covers all of the EU but, as we do not have an IVA facility in Ireland, would a UK IVA cover debts with Irish banks?

Thanks for all the very helpful replies. It looks like its going to be a tough few years. Would it make a difference if I was unemployed during the BR application? My other option is the following: I could train in the US where payments over the training years are a bit better than in the UK. Can I get an IVA in the UK and then move to the US while obviously complying with the terms and making the payments accordingly? Or do I have to be in the UK for the full duration of the 5/6 years?

Thanks. Why do you think I would be tied to the IPA?

Hello, thanks for the reply. I'm living in the UK now. I believe I need to be here for 3 months to consider bankruptcy here.

Hi guys, I've been reading the forum and it is a wonderful resource for those of us in trouble. My story: I have just graduated from a medical degree in Ireland which cost me a lot. In total I have €130,000 debt in student loans from Irish banks and credit unions. My first year as an intern with the NHS will pay £22,412. and my second year will pay £27,798. After that my income may rise to around £29,705 during any speciality training for 4/5 years. Of course it has the potential to be up to £50k if, in 5/6 years time I become a GP but that may never happen! I know that this is a very good income but my creditors want the following: €106,000 @ 10% interest over the next 8 years = €1600 per month €25,000 @ 8% interest over the next 5 years = €500 Total = €2100/£1675 per month My monthly income after tax will be as follows: 1st Year post grad (this coming year): £1450 (not enough to cover the payments) 2nd year: £1752 (leaving me with £77 per month to live on) Next four years: £1860 (leaving me with £108 per month) As you can see, making these payments is going to be impossible. I would like to get rid of it all in one year by going the bankrupcy route if possible. It's driving me insane at this stage. I know I would feel ridiculous trying to claim bankrupcy as people would say "how can a doc go bankrupt?", but I feel that it might be my only choice. My creditors are not willing to move enough to allow me to live on my salary. I'm lost as to what I should do. Any advice on how bankrupcy would work for me would be great. I know that student debt isn't covered with bankrupcy but I wonder if it is different if the loans are directly from a high street bank, i.e. private loans? Or would it be thrown out of court because of that plus my earning potential in say 6/7 years time? Also because of my earning potential later in life am I unlikely to have it dealt with in 12 months?