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jim_h
Junior Member
United Kingdom
219 Posts |
 Posted - 31 December 2008 : 13:50:31
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| i was listing to five live at the weekend and mike from debt wizard said law could be changing so it is easier to go bankrupt if you have debts of less than 15000 pounds and would cost about 100 pounds any one have any more details he said it was in April 2009 and was a much easier process |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 31 December 2008 : 13:58:21
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Hi Jim
I have heard something similar to that starting next year but as of yet dont know all the details.
Jo
x
Wishing you all a Happy Debt & Worry Free 2009
21 Weeks down
31 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring!
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goingunder
New Member
United Kingdom
88 Posts |
Posted - 31 December 2008 : 14:17:04
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apparantly the government are introducing something called a debt relief order in april 2009 for people with debts of up to 15k and disposable income of less than £50 a month. this may help
Debt Relief Orders
Debt Relief Orders are intended to provide debt relief for people in England and Wales who owe £15,000 or less, have little or no income, no assets and cannot afford to make themselves bankrupt. A Debt Relief Order will lead to the debts being discharged after one year.
During the year that a Debt Relief Order is active, the applicant will be protected from their creditors and subject to similar restrictions to bankruptcy. If the applicant's financial circumstances change during the order, then they will expected to make arrangments to repay their creditors. There will be civil and criminal penalities for anyone abusing this system.
It will only be possible to obtain a debt relief order by applying to the official receiver through an approved intermediary. Debt Relief Orders are currently being finalised by the UK Government, so some information is not yet known.
A Debt Relief Order is for people with...
Debts of less than £15,000
Assets of less than £300
Income less than £50 per month |
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bankruptcy change
