In recent years, England and Wales has attracted a steady stream of nationals from other European Member States (first German, then Irish, now, apparently, Latvian) wishing to take advantage of the ‘debtor-friendly’ British personal insolvency regime. That is to say, discharge from bankruptcy after one year; all (well, almost all) debts erased, a chance to start again after 365 days. Times, however, are changing.
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