James j
it is perfectly legit to move yourself up north, establish an address and after 3 months file for bankruptcy in the courts. This is as a result of one of the treaties we signed up to as part of europe either nice or mastrict 2 i think.
my understanding is that once the courts have made you a bankrupt that you are free to live where ever you want. (your family does not have to move)
Discharge can in some cases be achieved in 3 - 4 months ( dont think you have to remain there for this, once the court makes you bankrupt, back to roi)
I am aware of someone currently with a rented room in newry that spends a few days a month there and will shortly file for bankruptcy. They are however running all of their finances and bank accounts from there as well. its pretty easy for them as they live within 30 minutes of the boarder.