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Minimum debt level for bankruptcy etc increased

Minimum debt level for bankruptcy etc increased

Postby atticus » Thu Jan 15, 2015 1:36 pm

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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Re: Minimum debt level for bankruptcy etc increased

Postby 3.14 » Thu Jan 15, 2015 2:06 pm

Seems like a sensible measure.
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Re: Minimum debt level for bankruptcy etc increased

Postby dls » Fri Jan 16, 2015 8:54 am

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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