- Home
- Bankruptcy Tourism
Bankruptcy Tourism
- By Bankruptcy Ireland
- Published February 25, 2010
- Bankruptcy Tourism
-
Rating:
Bankruptcy Tourism To The UK
Can I Move To The UK And Go Bankrupt?
Bankruptcy tourism is a term used to describe the process of a person moving overseas in order to go bankrupt in a different country. Bankruptcy tourism is for many people in Ireland with over-whelming debts a real option as Irish bankruptcy laws are very hard and out of kilter with many other European countries. European laws enable people that have moved to another country within Europe and can prove that they are resident there to petition for bankruptcy using the local insolvency laws in that country. For many people in Ireland bankruptcy tourism is likely to mean moving to the UK where English bankruptcy laws are much softer and enable a person to completely discharge their debts within 12 months leaving them debt free after a year.
Can I Really Be Debt Free In A Year?
EU rules mean any bankruptcy ruling in the UK must be recognised by the other countries in the European Union. This allows a person becoming bankrupt in the UK to benefit from the one-year rule on return to their own country. Bankruptcy tourism is becoming a very real option for Irish people with large debts and European laws offers many of the protections that Ireland's own bankruptcy legislation seems to lack. Until Ireland's Government change their out of date insolvency laws to help the hundreds of thousands of people that have been devastated by the countries severe economic downturn bankruptcy tourism is set to grow and will appeal to forward thinking individuals simply looking for a fresh financial start.
Contact Us For Information On Going Bankrupt In The UK
Bankruptcy tourism is a term used to describe the process of a person moving overseas in order to go bankrupt in a different country. Bankruptcy tourism is for many people in Ireland with over-whelming debts a real option as Irish bankruptcy laws are very hard and out of kilter with many other European countries. European laws enable people that have moved to another country within Europe and can prove that they are resident there to petition for bankruptcy using the local insolvency laws in that country. For many people in Ireland bankruptcy tourism is likely to mean moving to the UK where English bankruptcy laws are much softer and enable a person to completely discharge their debts within 12 months leaving them debt free after a year.
Can I Really Be Debt Free In A Year?
EU rules mean any bankruptcy ruling in the UK must be recognised by the other countries in the European Union. This allows a person becoming bankrupt in the UK to benefit from the one-year rule on return to their own country. Bankruptcy tourism is becoming a very real option for Irish people with large debts and European laws offers many of the protections that Ireland's own bankruptcy legislation seems to lack. Until Ireland's Government change their out of date insolvency laws to help the hundreds of thousands of people that have been devastated by the countries severe economic downturn bankruptcy tourism is set to grow and will appeal to forward thinking individuals simply looking for a fresh financial start.
Contact Us For Information On Going Bankrupt In The UK
Spread The Word
Related Links
2 Responses to "Bankruptcy Tourism" 
|
said this on 25 Feb 2010 3:56:58 PM BST
Is going bankrupt in the UK an option for my husband? He has 45,000 euro of debt due to his business downturn over the last few years. He is a self employed sole trader in the building trade?
Thanks Mary |
Author/Admin)|
said this on 25 Feb 2010 4:01:30 PM BST
Hi Mary,
It may well be an option. Your husband would need to move to the UK and set up residency there. He would need to be able to prove that the UK is now his centre of main interest and that he lives and works there now. |
