DRO minimum debt level to increase

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Adam Davies

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Post by Adam Davies » Fri Jan 16, 2015 7:38 pm
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Hi

The Insolvency Service has announced changes to DRO and bankruptcy
See https://www.gov.uk/government/news/impr ... oblem-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.

Regards
Andam Davies
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Foggy

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Post by Foggy » Fri Jan 16, 2015 8:14 pm
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Very good. It would have been nice to see the fees for self petitioned bankruptcy go down a little (could have been balanced by creditor petitions costing a little more ! ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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luluj

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Post by luluj » Fri Jan 16, 2015 8:21 pm
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I agree foggy ...its out of reach for alot of people but these new levels will help some people.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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