I am getting an increasing number of emails and calls from worried Irish citizens enquiring if thye can go bankrupt here in England. As with any question, the answer is not straight forward. Yes as an EU citizen you can apply here to make yourself bankrupt, but there are rules which need to be adhered to.
In order to become bankrupt in England and Wales you need to satisfy these criteria:-
Debts in excess of £16,000. If there is not unsecured debt or secured liability shortfalls in excess of this the court will not make an order.
You can have unsecured liabilities less than £16,000, if you have secured mortgage and loan shortfalls. eg you may have a property on which you owe £50,000, but which is now worth £25,000. If you intend to have it repossessed the shortfall on the mortgage can be written off.
If you are a Irish citizen, you can declare yourself bankrupt in the UK, but you will need to be able to show the following:-
That England and Wales is your Centre of main interests, your COMI -
This is usually where you earn your main living, where you habitually live,
It doesn't matter if your debts are all or mostly overseas, but you will need to have shown you have lived in the UK for 6 months. If less than 12 months the Official receiver will look at your circumstances, and he might consider any or all of these:-
A check may be made of your given address
Evidence of settlement such as bills, credit card statements and cash withdrawal records.
NI number and employment records
Wages slips.
Language skills
So for anyone who has genuinely settled in England and Wales, I can help take you through the bankruptcy process. Your key will be genuinely establishing that here is where you now live and that you are not simply taking advantage of the generous UK bankruptcy laws. Once you have decided that bankruptcy is for you and you qualify, call me on 08081605577. Â The fee will be dependant on each location where the bankruptcy needs processing.
In order to become bankrupt in England and Wales you need to satisfy these criteria:-
Debts in excess of £16,000. If there is not unsecured debt or secured liability shortfalls in excess of this the court will not make an order.
You can have unsecured liabilities less than £16,000, if you have secured mortgage and loan shortfalls. eg you may have a property on which you owe £50,000, but which is now worth £25,000. If you intend to have it repossessed the shortfall on the mortgage can be written off.
If you are a Irish citizen, you can declare yourself bankrupt in the UK, but you will need to be able to show the following:-
That England and Wales is your Centre of main interests, your COMI -
This is usually where you earn your main living, where you habitually live,
It doesn't matter if your debts are all or mostly overseas, but you will need to have shown you have lived in the UK for 6 months. If less than 12 months the Official receiver will look at your circumstances, and he might consider any or all of these:-
A check may be made of your given address
Evidence of settlement such as bills, credit card statements and cash withdrawal records.
NI number and employment records
Wages slips.
Language skills
So for anyone who has genuinely settled in England and Wales, I can help take you through the bankruptcy process. Your key will be genuinely establishing that here is where you now live and that you are not simply taking advantage of the generous UK bankruptcy laws. Once you have decided that bankruptcy is for you and you qualify, call me on 08081605577. Â The fee will be dependant on each location where the bankruptcy needs processing.
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