www.iva.co.uk

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

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 ! ).

I agree foggy ...its out of reach for alot of people but these new levels will help some people.