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 new laws on declaring yourself bankrupt under £15,000?		  New Topic  Reply to Topic
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rach20
Starting Member



1 Posts
Posted - 07 August 2009 :  10:30:41  Show Profile  Visit rach20's Homepage  Reply with Quote
Please can you give me some information or direct me to where I can get information on the new laws on declaring yourself bankrupt under £15,000?

mick1972a
Junior Member

235 Posts
Posted - 07 August 2009 :  10:53:29  Show Profile  Reply with Quote
You may be thinking about a new thing called a Debt Relief Order. Think it only costs £90 instead of £510.

This site should be of help if this is what your thinking about.
http://www.adviceguide.org.uk/index/life/debt/debt_relief_orders.htm

Mick
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 07 August 2009 :  11:05:32  Show Profile  Reply with Quote
With the DRO you can't be a home owner, you must not have any assets worth over £300 (you can have a car though - not sure about the value) and your disposable income after your priority payments have been made must be less than £50 per week.

Mick is right that it costs £90.

The glimmer gets brighter all the time

Jan
xx
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Reviva UK
Advanced Member

United Kingdom
2452 Posts
Posted - 07 August 2009 :  16:37:04  Show Profile  Reply with Quote
Hi

The car needs to be worth £1000 or less and the disposable income needs to be less than £50 per month

Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
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