Posted by admin - August 1, 2014 1:05 pm Bankruptcy Limit Review
The Insolvency Service is to review the threshold at which a creditor can petition for a debtor’s bankruptcy. The current level of £750 has been in place since the introduction of the Insolvency Act 1986 and would now be nearer £2,000 had it kept pace with inflation.
We will keep you updated once the Insolvency Service review takes place.
Please note: This blog/news post provides an overview or insight only and therefore, should be viewed as being for guidance only purposes. Legislation does change and your own circumstances may differ from the situation highlighted in this blog. Therefore, before taking any action we recommend you get in touch with us to discuss your own situation.