To access the complete list of bankruptcy questions and answers on this website (210+), simply click on ‘bankruptcy questions’ at the top of the Home Page and scroll through the ten available pages. Everything, from ‘do I need to take my ID to court’ to ‘how do I go bankrupt from Ireland’ is covered and there is also a facility to ask your own questions. If you would prefer a quick chat, call us on 01425 600129 or 07894 481175.
No, HMRC approved pensions are ring posted in bankruptcy and cannot be touched by the Official Receiver, though we understand this is not the case in other parts of the EU including the Republic of Ireland and Germany. State pensions are similarly unaffected.
Call us on 01425 600129 or 07479 739139 / 07894 481175 with any further bankruptcy questions or for bankruptcy help. Our advisers are not scripted and will gladly explain everything in easy to understand terms.
Many people from the ROI are considering moving to the UK mainland for this reason, as the insolvency laws are so much more lenient in England and Wales. There are, however, some points to consider and something called ‘Centre of Main Interests’ or ‘COMI’ is all important. The Insolvency Service is acutely aware of the phenomenon of ‘bankruptcy tourism’ and there are some tough criteria to satisfy if you wish to proceed.
Typically, you would need to set up local bank accounts and utility / council tax facilities, register for tax, national insurance, have a tenancy agreement in place, place yourself on the electoral roll and so on. In other words, it has to appear that you are here to stay. You may apply for bankruptcy once you have been in England or Wales for three months. This is something of a speciality for us and our track record is solid.
Bankruptcy UK offers assistance at all levels and will also prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us for bankruptcy help on 01425 600129 for a chat about your circumstances.
I have a property in Ireland in negative equity. Would bankruptcy be an option? What are the consequences?
Properties in negative equity are not lost in bankruptcy provided mortgage payments are maintained. The Trustee / Official Receiver registers his interest in the property on the Land Registry, then reviews the position 27 months later. On the other hand, Irish properties are often in serious negative equity and you might want to simply surrender the property and include the shortfall in the bankruptcy.
Please note that the insolvency laws in Northern Ireland and the Republic of Ireland are very different. In Northern Ireland, the laws are almost identical to those in England and Wales i.e. 12 months in bankruptcy, but in the Republic of Ireland bankruptcy lasts for 3 years. For this reason, people considering bankruptcy in the Republic of Ireland often choose to relocate north of the border or to England / Wales.
Provided it is clear that this is a permanent move and that the ‘Centre of Main Interests (COMI)’ is now in the chosen area, it would be possible to proceed using the more lenient insolvency laws. We have helped countless people from the Republic of Ireland over the years, so give us a call and we’ll talk you through it. We weren’t clear as to whether you had already relocated or were simply considering it.
Bankruptcy UK specialises in taking people through the bankruptcy process in a straightforward manner. We will assess your circumstances then submit the bankruptcy application online. Court appearances are no longer required for bankruptcy. Call us for a chat about your circumstances on 01425 600129.
I am still paying towards a pension. Can they take the money from my pension fund if I go bankrupt?
HMRC approved pensions are ringposted in bankruptcy and cannot be touched. This applies for pensions taken out in England and Wales, but not for those who have pensions in the Republic of Ireland and a number of the other EU member states.
There was legislation being considered at one point that might have obliged those in their early to mid 50s to hand over part of their pensions at age 55, but this was rejected by the Lords.
Feel free to call us on 01425 600129 with any other questions or for bankruptcy help. Questions may also be posted on our Home Page. Court appearances are no longer required for bankruptcy as everything is processed online.