A New Year has dawned and for many it will herald a chance
for a new start. In Ireland I know that many families will be facing up to
another year of debt and depreciation and for lots they will be seeking to move
across to the UK to set up a new life.
For those who come to the UK and establish themselves, they
may in time turn their thoughts to getting rid of their debts and declare
bankruptcy. Indeed I know of many who have decided to move to England simply
for the purpose of going bankrupt, which is what they are entitled to do.
If you have reached the New Year and decided that a new
start is for you then you need to be absolutely certain that the steps you take
will enable you to declare bankruptcy in due course. You will have to establish
the UK as your centre of interest. That means that you will if possible be
expected to get a job and support yourself as benefits will not be available.
As well as getting a job and a residence you should also
establish a bank account. That account will need to be used on a regular basis
as the Official Receiver will expect to see transactions taking place as
evidence of constant living in the UK.
When you have been in the UK for up to six months you will
be able if you wish to apply to the local county court that has jurisdiction
for bankruptcy. Each county court has a different way of approaching
bankruptcy. It is best to speak to the court and ask them their procedure. They
may send you a pack for bankruptcy, which will include a petition and a
statement of affairs which you will need to complete.
When this is done you will need to attend court with three
copies of each document. You will also need a fee of £700 which is part court
fee and part official receiver’s deposit. The court staff will process the
papers and then you will be taken to see the Judge. If the Judge is satisfied
that you are entitled to bankruptcy, and he will check that you have
established your centre of main interest here, he will grant the bankruptcy
order.
Once the order is made the affairs will be handled by the
Official Receiver. His job will be to contact the creditors and realise any
assets for the benefit of creditors. The Official Receiver will contact you
within 24 hours to establish contact. In as little as three weeks he will
conduct an interview with you and discuss the statement of affairs.
If no issues arise then the bankruptcy will automatically
come to an end in just 12 months.
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