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Bankruptcy Tourism, a viable option ?.

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  • 17-01-2011 4:24pm
    #1
    Rabidlamb
    Banned (with Prison Access) Posts: 2,202 ✭✭✭


    Just been reading up on this, lets call it a loophole.

    http://www.bankruptcy.ie/articles/16/1/Bankruptcy-Tourism/Page1.html

    Apparently if you can prove that the UK is your main place of residence then you can apply for bankruptcy over there & be debt free within 12 months.
    If I'm reading this right I could go & work in a McDonalds in Liverpool for a few months then apply.

    "EU rules mean any bankruptcy ruling in the UK must be recognised by the other countries in the European Union."

    Then I could return to Ireland & no one could chase me for my Puff Daddy debt fueled lifestyle.

    Now the wagging fingers may say it's immoral but no more immoral than what David Drum is at.

    Where's the pitfall & small print I'm not seeing ?.


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