Will filing bankrupcy in UK clear my Irish debt?

drrkpd said:
So the banks still have all the power because they have the secured debt!!
So if I have this right you have to stop paying the mortgage and offer voluntary surrender and then wait and hope the banks issue a judgement against you- and THEN go to UK- not simple is it??!!
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Actually is is very simple. You just have to go to the UK and let the UK insolvency system/administrator deal with the bank.

But taking the step of going to the UK is a very difficult decision for a lot of people.
 
Thanks for clearing that up and yes it is a big decision for anyone but so is staying with huge debt!!!
 
drrkpd said:
Thanks for clearing that up and yes it is a big decision for anyone but so is staying with huge debt!!!
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You haven't posted up your actual details drrkpd but there are signs of a new reality out there with the banks etc. It may now be possible to come to an arrangement with them for voluntary surrender. There is one person on AAM doing it with EBS and another case of BofI in the Irish Times today.
 
alphatucana said:
Hi Stressed!

Did the solicitor confirm that UK bankruptcy would clear the Irish debts? It sounds highly unlikely to me - the Irish bankruptcy rules are extremely punitive and unfair, and quite different from the UK system. Or are you thinking along different lines now?

I know I did some research on different bankruptcy systems in different countries some time ago. I put them in a free e-book which you can get from my website should you be interested. It is on the Debt Management page on the Money menu. :) The website is the same as my user name in co uk though.

Certainly moving to a different country seems like a sensible move anyway, if you really thing things are out of control and there are no jobs available where you are. Not sure what jobs are like in the North though...
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Hi if you really did some research on different bankruptcy systems and put them in an e-book how on earth did you now know or understand that Irish debts will be written off in the UK. not an e-book i would recommend to anyone.
 
Jim2007 said:
I think the first point you need to understand is that you do not declare yourself bankrupt - you are judged to be bankrupt, there is a very big difference, in that the decision is not up to you! and furthermore simply having negative equity does not mean that you are bankrupt....

I would also point out that not one of the UK advisors so far has been able to show case law where by the Irish or other EU courts for that matter, have accept the jurisdiction of a UK court over property located in their country... we have seen lots of opinions but not decisions.

And the end of the day you should seek proper legal advice before you act.
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Jim you keep on banging on about no court has ruled on whether or not Irish courts have to accept the Official receiver's jurisdiction over property in theor country. The reason is it is set out in EU law and it would be a pointless action.
More to the point and as I keep asking you, can you cite a case where anyone has said the OR does not have a right to deal with foreign property. If not stop throwing up red herrings
 
apple said:
hi stressed

thanks for that, did you ask about moving to the north?. I was told that you have to be living there for 3mths and a day or 3 mths and 2 weeks to be sure of comi.

Can anyone here confirm the length of time you need to be living in UK/NI for COMI.
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You have to be in the jurisdiction of the court for the greater part of six months. That could be as little as three months and a day. It is best practice to psuh that out as far as you can. I encourage those I taek through to leave it six months
 
stressedlady said:
she gave me a quote of starting at £300 + vat.........

you have to reside in the UK for 6 months...
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Good luck if some one has quoted you £300 to go bankrupt. It is £700 per person just for the fee! You may just be getting what you pay for at £300. Always best to shop around and find out wxactly what you get for your money.
 
Hi, Your UK bankruptcy will sort out your Irish and world wide debts. If you are bankrupt you are bankrupt no matter which country you declare it in.
 
Bankruptcy in ireland from America

I owned a house in ireland in 2008 but moved to the U.S. In hopes a better life. Unfortunately I could not afford to keep my house and it was repossessed a few years ago. I had asked could I make minimum payment until we could sell it or if could do interest only but the bank refused. My parents and former work place has been contacted by debt collectors and this really bothers me. I never intend to live in ireland again and have a wife and family in USA and good credit. So my question is really can debt collectors come after me in America and can I still visit ireland if I need to. I was hoping to go bankrupt in ireland and resolve it that way but I'm worried it would effect my standing over here. Thank for any help.
 
So my question is really can debt collectors come after me in America
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Highly unlikely. Make sure that no one tells them where you are.
can I still visit ireland if I need to.
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Of course you can. It is a civil matter nothing to do with the Gardaí.
 
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