Hi I have been reading on the IVA site that someone mentioned from the 6thApril I think it was that your BR would no longer be published in the local newspaper something about some law changing.
this has been muted since late 2008 and there are indeed rumours abound.
I have yet to see any formal undertaking in writing but I believe I won't because, as I understand it, there will be no change in legislation but a change of view by the Insolvency Service whereby OR offices are advised that they no longer need to advertise but should do so if they feel there are likely to be creditors locally that have not been disclosed. If legislation were to change then the flexibility of the OR to choose to advertise or not is removed.
I therefore assume that if you are a sole trader or partner in a business, and therefore, perhaps, more likely to have local debt, to suppliers etc, then your details are very likely to be advertised.
Others may see no advertisements at all. We shall all see very soon but in my view a step in the right direction if it happens.
I also beleive bankruptcy numbers will increase dramatically. In countless surveys the advert aspect is always given as the single most reason why those in debt avoid bankruptcy.
As much as i don't particularly want my name in the paper, i believed it would be when i went BR, so be it!! IF it isn't i'll be even happier than i am now If it is its not the worst thing in the world and most people i know don't evn read the Public Notce section in the Paper.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman) Life's too short!!!
BR no longer published in local paper?
Posted - 04 April 2009 : 11:54:59
