Southern Ireland Bankruptcy

Southern Ireland Bankruptcy, At Bankruptcy.co.uk our goal is to provide you with practical solutions for your debt problems. One of the best solutions is to Declare Bankruptcy in the U.K. We can guide you through this process and help you gain financial stability and a brighter future.

There have been a number of high profile cases where people have gone to the U.K. to declare bankruptcy. The have done so due to the practicality of the process in the U.K., and now, with our help, you too can be free from debt byDeclaring Bankruptcy in the U.K.

If you feel as though Bankruptcy is a possible option for you, you will want the best advice in dealing with the process. We at Bankruptcy UK we can guide you through the process of gaining the financial freedom you desire.

The prospect for individuals in Southern can be daunting. The frequently asked questions from the people in Souther Ireland are generally to do with Pensions.

The facts are that the insolvency laws in Southern Ireland have not been reformed for some time and therefore leave a lot to be desired. One of the main issues is the personal pension. If you enter bankruptcy in Southern Ireland then you will lose your pension. it is considered an asset and therefore you will lose it.

If you are living in Southern Ireland and you are considering bankruptcy and you have a private Inland Revenue approved pension then you will not be able to enter bankruptcy without considerable loss.

If you are seriously considering personal bankruptcy and you have a pension that you want to protect then you will have to make some sacrifices. If you move to Northern Ireland or want to move to England or Wales for the greater part of 6 months which equates to 3 months and 1 day.

You may benefit from speaking to a pension transfer specialist who can transfer your pension from your Irish pension provider to outside of Ireland. In may instances you are able to release money from this sometimes up to 35% of the pension value. This will certainly give you some options that wouldn’t ordinarily available.

This gives you choices. It may be that by doing this you are in a position to offer a full and final settlement offer to your creditors. This may help you to avoid bankruptcy obviously there are no guarantees that your creditors will accept an offer like this. But they will be compelled to consider any offer that you make.

The other positive advantage is that by moving to Northern Ireland or England or Wales your pension will be protected from bankruptcy and the term of bankruptcy will be 12 months opposed to 12 years which is what it is in Southern Ireland.

So if you have overwhelming debts and you live in Southern Ireland and you have a pension that you want to protect you will need to:

UK Bankruptcy Vs Ireland Bankruptcy

A quick look at the major differences between the process in both country’s makes it painfully apparent why so many Irish citizens are taking their bankruptcy issues across the water, and here are just a few of the reasons why.

Ireland: In Ireland the bankruptcy process is a long expensive affair, with large sums of money having to be paid out in fees to solicitors.

UK: In the UK, it is required to attend the county court with your documents prepared and completed correctly.

Ireland: In Ireland you will have to be subjected to an open hearing in courts, where you will also have to hand over all assets. You also cannot be discharged until all creditors have been paid in full, or until 12 years have passed, and even then permission from the Revenue is required before discharge can be completed.

UK: In the UK, you will not be in open court and it is most unlikely that you will see a judge. You then have a telephone interview with the Official Receiver, who is appointed to look after all your affairs. The telephone interview generally lasts around 45 minutes and is usually the last contact you have until you are discharged from bankruptcy a year later.

Ireland: In Ireland the person filing for bankruptcy is required to completely hand over all assets, this is very different than in the UK

UK: Bankruptcy law in the UK allows the person filing to hold on to most of their assets, including a vehicle up to the value of £1000, as it’s assumed that this is essential to help the individual seek employment, or maintain their current job.

Ireland: Much social stigma is attached to bankruptcy in Ireland, it can be made very public and can cause a lot of shame.

UK: The social stigma of bankruptcy doesn’t really exist in the UK

It’s for all the reasons listed above, and more, that results in only a few bankruptcies per year taking place in Ireland, whereas, it is a common daily practice in the United Kingdom.

How can Bankruptcy UK help you?

The answer to this is very simple, we can guide you through the process of Declaring Bankruptcy in the UK and get you back on track with your finances and hopefully lead you into a brighter, happier future.

You have most likely reached this page because you are either considering bankruptcy, or possibly worried about debt problems and not sure how to handle them. Well, you have come to the right place! Here at Bankruptcy.co.uk we pride ourselves on being able to help you and thousands like you who are in that very same position.

We do this by guiding you through the process of Declaring Bankruptcy in the UK The advantages of declaring bankruptcy in the UK and not Ireland are many, as can be seen throughout this website. We are confident that if you consider bankruptcy as the best possible option for you, then you will certainly agree that going bankrupt in the U.K. is the only way to go about it. The team at Bankruptcy UK can guide you through this process.

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