This section is for sharing information about any aspect of social welfare that you think may be of interest to other Forum members. This could be about new or emerging policies, information about your organisation, an event you are organising or examples of good practice.
This section is for seeking the help and support of other Forum members in your role as an adviser or an advice services manager. You may be seeking help and support about a specific social welfare topic, a case on which you are working, your internal procedures and processes or external relationships.
This section is for promoting discussion about any aspect of advisory work: examples of good practice, your own practice, the work of your organisation, current or emerging social welfare issues or improving local services.Close
Changes to Debt Relief Orders and Bankruptcy
Posted by Ian, CCAB.
Updated 1092 days ago in: Information Sharing
Currently, a person only needs to owe £750 or more for a creditor to be in a position to issue bankruptcy proceedings against them (a creditors petition). This limit will rise to £5000. The £750 limit has been in place since 1986. This is a positive move, as it prevents creditors form making debtors bankrupt for relatively small debts.
The debt limit for a DRO will rise from £15,000 to £20,000, making more people eligible for this remedy. The asset limit will also rise to £1,000 (previously £300) but the maximum vehicle value remains at £1,000, as does the disposable income limit of £50 per month.