Monthly Archives: August 2014

Bankruptcy Threshold Could Be Raised

Government ministers are considering increasing the level of debt that a person must owe before they can declare themselves bankrupt, or be forced into bankruptcy by their creditors. The current threshold of £750 hasn’t changed since 1986 and, according to the Insolvency Service, this is leading to a rising number of cases where people are… Read more »

Bankruptcy And Retired People: The Facts

Retirement should be a time of relaxation and enjoyment, but it’s a sad fact that debt problems are on the rise amongst elderly people in the UK. Statistics released by the Debt Advice Foundation in 2013 revealed that five times as many pensioners are going bankrupt than 10 years ago, and the size of the… Read more »

A Spike In Personal Insolvencies In Q2

Figures released by the Insolvency Service have shown a worrying spike in the number of personal insolvencies reported in the second quarter (April to June) of 2014. The 8% rise represents a total of 27,029 new insolvencies during these three months, over 2,000 more than in the previous quarter and 5% up on the same… Read more »