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T O P I C R E V I E W
ranjw
Posted - 26 January 2009 : 10:07:02 I have heard BR costs will be increased and regs tightened in the near future due to the amount of BR applications. Is this true and when
3 L A T E S T R E P L I E S (Newest First)
Trolly-Dolly
Posted - 26 January 2009 : 12:53:43 I too had heard this rumour, so Suzanne researched it and found nothing on it!
Given the bankruptcy laws were only changed in April 2004 as a result of the Enterprise Act, I am unaware of any planned changes to BR moving forward (apart from the introduction of Debt Relief Orders which deal with total debts under £15k).
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
John
Posted - 26 January 2009 : 11:56:51 Hi
whilst there are plans afoot to "fasttrack" certain low end debt which will apparently cost the petitioner less than the current £495, I have not heard anything regarding increases in fees and tighter regs.
To me, to implement either of these would only serve to extend the backlog of cases the courts and OR offices are struggling to deal with already.
No doubt in the future there will be added regulation within the bankruptcy industry as there has been already in IVA and Debt Management over the past few years but I would be surprised if this was to impact on the bankrupt themselves financially.
