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| T O P I C R E V I E W |
| Niobe |
Posted - 26 February 2010 : 06:49:50
I see that these are soon to go up to £600 as from 6th April according to Debt Wizard.
Not good.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| 9 L A T E S T R E P L I E S (Newest First) |
| jim_h |
Posted - 27 February 2010 : 12:33:53
shocking news i would of just about saved the fees by april will have to find another 300 pounds for myself and partner |
| Jane.l |
Posted - 27 February 2010 : 11:02:52
I think it will just encourage more people to use credit to pay for the fees, I am afraid this is what we did, we were trying to save up 2 lots of fees, but with one wage and 3 kids, it was taking us ages to save up and I was getting more stressed and worried and when debt collectors started knocking on the door of the rented house we had moved to (I had not told them of our new address, they must have tracked us down, there is a search by a tracing company on our credit file) I knew then we had to bite the bullet there and then so we used our overdraft for the fees. The OR never said anything but this was the 2nd overdraft we had, because we had left our old account overdrawn and we opened a new account in readiness for an IVA, which never happened 
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| debtinfo |
Posted - 27 February 2010 : 10:17:07
I did start a thread on this a few days ago, in addition the minister announced that they were looking to make changes to pensions and DRO's to make them more accessible for people on very low incomes.
On the bankruptcy fees, the facts of the matter are that the most bankrupts only pay a deposit not the full cost of the bankruptcy. The Average cost of administering a bankruptcy are £1715.
Where does the rest come from.
The answer is that it comes from the fees that are collected by the IS when they realise assets such as the sale of a property (this was 17%). Over the last couple of years this has been reducing due to the recession and propetry prices reducing. More people have been going bankrupt and buying their property back for £1. This has meant more costs (as there are more bankruptcies to administer) but falling recoveries from selling properties.
Inevitably this shortfall has to be met, hence the new bankruptcy fees |
| Skippy |
Posted - 26 February 2010 : 20:11:11
That is completely ridiculous! If you have so little money that you are going BR where on earth do they expect you to find £600?!?! Even worse if you're a couple and need £1200!
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
31 IPA payments made, 5 to go - the end is in sight! |
| Niobe |
Posted - 26 February 2010 : 17:34:27
I think that rise is totally ridiculous!
If you have no money, how on earth are you supposed to fund it?
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| Richard P |
Posted - 26 February 2010 : 10:33:58
some of the courts are already stating they have a 4 -6 week delay to be booked (edited after posting)(in to see bankruptcy clerk and District judge)
so if you are distant watcher of the forum and considering BR, and dont want to pay the extra money time now to get organised
regards Richard |
| Housing |
Posted - 26 February 2010 : 10:27:28
Morning Melanie,
I agree with you, this is scandalous and it puts someone who is saving for BR into a further disadvantaged position.
It is difficult enough, first of all to a debtor coming to the decision that they are insolvent and that BR is the only route and then, having taken the decision and wanting to get the matter dealt with and saving for the fee, only to find that it has increased 25%.
I do, however, understand that as a public authority, the OR is accountable for its costs, but not to cause increassed stresses to the debtor.
End of rant...
Hope that you are well and have a good weekend. (Hope that Wales do well this week...!)
Richard
quote:
Originally posted by Melanie.n
Yes thats right the fees for the OR increase by 25% from £260 to £450, at the moment there is no news on any Court fee increase on the £150. It does mean that anyone filing from 6th April will now be required to pay £600 - I do think though that this increase is absolutely criminal - How can the justify an increase of 25%?
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
"There are no problems - only solutions" |
| gettingoutofdebt |
Posted - 26 February 2010 : 09:04:42
Maybe with the increases in BRs they need more staff to keep up with the workload although a 25% increase is pretty drastic. |
| Melanie.n |
Posted - 26 February 2010 : 08:46:29
Yes thats right the fees for the OR increase by 25% from £260 to £450, at the moment there is no news on any Court fee increase on the £150. It does mean that anyone filing from 6th April will now be required to pay £600 - I do think though that this increase is absolutely criminal - How can the justify an increase of 25%?
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
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