In practice, there isn't that much that they can do, but the debts won't go away.
If you come back to Ireland, if they hear that your financial circumstances have improved, if you get an inheritance, they can come after you.
It's much better to try to do a deal. Would you not consider the 1 year bankruptcy now that you have moved to the UK? That will bring closure to the issue.
Then you are free to make money in the future, come back to Ireland, open a bank account, inherit money, win the lottery, whatever.
Brendan