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Bankruptcy Changes

Posted on 13 October 2015

Changes to the insolvency regime could mean fewer bankruptcies.

The minimum debt before an individual may be made bankrupt is set to increase from £750 to £5,000.

In further changes to personal insolvency, Debt Relief Orders are also to change will change from a maximum permissible debts of £15,000 to the greater amount of £20,000 and the maximum permissible assets from £300 to £1,000.

Read further in the Independent and the Evening Standard.

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I approached liquidation with trepidation not knowing what to expect after having run the business for 30 years. I was led gently through the procedure without embarrassment or pressureDirector of boutique clothing store

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