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Posted: Wed Dec 31, 2008 9:31 pm
by whichwaynow
This makes for very grim reading.
http://news.bbc.co.uk/1/hi/business/7805892.stm
The Debt Relief Orders sound as if it may be a hope for quite a few people.
Posted: Wed Dec 31, 2008 9:53 pm
by kallis3
Are we really surprised though?
Posted: Wed Dec 31, 2008 11:04 pm
by MelanieGiles
Debt Relief Orders bring an ideal solution for those who have low debts, no assets and no disposable income to avail of bankruptcy procedures without having to pay unaffordable Court Costs. We in the profession welcome this new procedure for that certain group of people.
Posted: Wed Dec 31, 2008 11:11 pm
by kallis3
Be interesting to see how many people qualify for these and how many take them up.
Posted: Thu Jan 01, 2009 4:29 am
by David Mond
It is for debts of £15,000 and under and where the debtor has less than £50 of disposeable income per month. Not sure how many it will help although the principle is a good idea.
Posted: Thu Jan 01, 2009 8:46 am
by kallis3
I know who it is for, and reckon that you will get all the very low income families who have been relying on high interest loan firms such as Provident.
I reckon it will be a godsend for them.