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Trolly-Dolly
Average Member
591 Posts |
 Posted - 28 August 2008 : 22:11:15
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At court yesterday I got speaking to another lady (also going BR), her uncle who was previously BR himself and is now an accountant told her to get a move on as the laws are changing.
"Oooooh" I said.
Some may know that I was unfortunate enough to run into my new lawyer friend at the court
Whilst making polite chit-chat he said that it was good we were doing this now as there were going to be some changes in November 2008.
He said that something called 'The Green Paper' (I think) was being passed through The Commons now after being approved in The House of Lords, which basically is going to make going BR a lot harder. He wasnt sure how, but thinks your limit of debt may change and that the OR will be much tougher!!!!!!
EEEEKKKKKK!
How true is this?
Anyone else heard this?
You can read my blog here;
http://drowningmummy.blogs.iva.co.uk/ |
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Trolly-Dolly
Average Member
591 Posts |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 29 August 2008 : 09:12:53
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Hi
This is a new one on me, but I have contacted the policy unit at the OR and will let you know their reponse when I get it.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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Trolly-Dolly
Average Member
591 Posts |
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SL44
Junior Member
194 Posts |
Posted - 29 August 2008 : 12:31:47
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Hi,
The only changes I heard about are:
Debt Relief Orders are planned to commence in April 2009
These are a new, simple, cheaper, alternative to bankruptcy for those with relatively low debts, few assets and low income and are one result of the Tribunals, Courts and Enforcement Act 2007.
The intention is provide debt relief for people in England and Wales who owe relatively little, have no income and no assets to repay what they owe and cannot afford to make themselves bankrupt.
Debt relief orders are designed to give those who have debts of £15,000 or less, assets of less than £300 and surplus income of less than £50 per month the opportunity to apply for an order that will lead to the debts being discharged after one year. During that period, people who have a debt relief order will be protected from enforcement action by their creditors and will be subject to similar restrictions to bankruptcy.
For more info see the FAQs on http://gosportcab.hampshire.org.uk/html/recent_news.html
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 29 August 2008 : 13:28:05
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Hi all,
Indeed, Debt Relief Orders are comming in shortly. In addition, the sequestration rules in Scotland will be changing to bring them into line with post-Enterprise Act BR in England and Wales. Other than that, I am unaware of any further changes in the pipeline. I will investigate and advise if I hear anything further.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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debtfreejo
Junior Member
213 Posts |
Posted - 29 August 2008 : 15:22:08
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Hi so thats good news for many then, i started to worry then that the bubble had burst and the government had realised that many more people were taking the BR route and so they wanted to make it harder.
I dare say it wont be long though before they have a big rethink of the BR law and where most of us will be clear in 12months it will all change and they most probably will make it either harder or more complicated.
Oh well at least we can advise those that need that little bit of TLC and advice right now and help them to make the right choice with regards to now.
Trollydolly if you hear anymore keep us posted as this one could keep popping up and it will certainly be one question we will all want to know about.
TTFN
JO |
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Changes to Bankruptcy - Nov 08
