Hi brownsarahj
A couple of observations:
1) Don't be worrying about jail. Disputes regarding money are normally civil rather than criminal matters.
2) You have the option of applying for bankruptcy in Ireland or England.
3) The process in Ireland is cheaper but it involves a petition to the High Court in Dublin.
4) The process in England is more expensive but it is simpler, and can be initiated by completing a form online.
5) Bankruptcy lasts for a year in both jurisdictions, with a possible additional 2 years payments of surplus income.
6) An Irish bankruptcy would probably not be picked up by the UK credit reference agencies, but, if you apply for credit in the UK and are asked "have you ever gone bankrupt?" you will still need to answer yes. Otherwise you leave yourself open to an accusation of telling "porkies" during a credit application.