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Bankrupts head to UK

A NEW service is providing Irish residents a means to declare themselves bankrupt in the UK, where bankruptcy lasts only 12 months as opposed to 12 years here.

The firm, IrishBankruptcyUK, is helping people take advantage of the UK's favourable insolvency laws.

Under EU rules, an Irish resident is allowed to move to the UK and, once established there, can declare themselves bankrupt.

The process is commenced in Ireland through IrishBankruptcyUK's Irish representatives, who are meeting clients all over the country to assist them in processing their bankruptcy once in the UK.