Discussing UK law. Links: swarb.co.uk
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The government has announced today that the minimum level of debt on which a bankruptcy petition or winding up petition can be based is to be increased from £750 to £5000. It seems that this increase will take effect in October 2015.https://www.gov.uk/government/news/impr ... oblem-debt
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Seems like a sensible measure.
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Given the beneficial consequences of bankruptcy, I agree that £750 did sound too low.
Whether £5,000 is too high, I cannot really say.
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