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 DRO Levels to increase
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Niobe
Administrator



United Kingdom
4590 Posts

Posted - 17 January 2015 :  08:49:58  Show Profile  Reply with Quote
This may well be a great help to some people:

The Insolvency Service has announced changes to DRO and bankruptcy
See https://www.gov.uk/government/news/improved-help-for-people-struggling-with-problem-debt

In a nut shell
The maximum amount of debt that can be covered by a DRO will increase from £15,000 to £20,000.

The government is also increasing the minimum level of debt for which someone owed money can force a person into bankruptcy from £750 to £5,000. The limits were last revised in 1986. - See more at: http://www.iva.co.uk/forum/topic.asp?whichpage=1&TOPIC_ID=68858#569721

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


Viki.W
forum expert



United Kingdom
2211 Posts

Posted - 17 January 2015 :  13:42:49  Show Profile  Reply with Quote
Thanks for posting that Niobe. Good news for a lot of people.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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Niobe
Administrator



United Kingdom
4590 Posts

Posted - 17 January 2015 :  14:04:16  Show Profile  Reply with Quote
Have to confess it was pinched from the sister site!!

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


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Blackie
forum expert



United Kingdom
565 Posts

Posted - 19 January 2015 :  19:16:39  Show Profile  Visit Blackie's Homepage  Reply with Quote
Hi guys

However it could mean a huge increase in CCJ's and Charging Orders.
None of this comes into force until October anyway.

John

For help and advice on the easiest and most effective way to a debt free future, please telephone me on FREEPHONE 0800 298 0253
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