They used to say that marriage is a three ring circus – first the engagement ring, then the wedding ring, then the suffering.
However, in some circumstances, if you are bankrupt, the Official Receiver could relieve you of at least one of those rings.
The basic principle in English law appears to be that when a chap [...]
Archive for March, 2010
Bankruptcy and marriage
March 31st, 2010 by David Field
DIY Bankruptcy grows in popularity
March 19th, 2010 by David Field
The days of Handy Andy and Changing Rooms may be long gone, but the number of people doing it themselves has never been higher.
In 2001, 66% of bankruptcy orders were made as a result of debtor’s petitions (i.e. where the individual applies to Court to make him or herself bankrupt). By 2009 the proportion of [...]
Government to make it easier to write off debts?
March 18th, 2010 by David Field
The Government has announced plans to make it easier for people in financial difficulty to apply for a Debt Relief Order (DRO).
DRO’s were introduced in 2009 as a low cost alternative to bankruptcy. They only apply to people with debts of less than £15,000, assets with a value less than £300 (excluding motor vehicles up [...]
Bankruptcy to become more expensive
March 17th, 2010 by David Field
From 6 April 2010 the cost of making yourself bankrupt will increase from £510 to £600. This is made up of a court fee of £150, and a deposit towards the Official Receiver’s costs of £450.
The Department for Business Innovation and Skills, which oversees bankruptcy legislation, justified the increase by saying:
“We have always made it [...]
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