Law Change Will See Fewer Bankruptcies

A change in the law in October will mean people must owe £5,000 in order to be declared bankrupt, up from £750. The change in law is expected to result in 2,000 fewer bankruptcies every year, according to R3. Rules on DROs also change. The debt level required to qualify is rising to £20,000 and the asset level to £1000 from £15,000 and under £300.

Daily Mail, Page: 51   Evening Standard, Page: 48