Monthly Archives: February 2015

Personal Insolvencies At 10 Year Low

New figures released by the Insolvency Service show that the number of people becoming insolvent in England and Wales has fallen to its lowest level since 2005. Last year saw the number of personal insolvencies fall by 2% on 2013 levels to 99,200 – the fourth annual drop in a row. Corporate insolvencies have also… Read more »

Personal injury claims and bankruptcy

When you’ve been declared bankrupt, control of your finances passes to the Official Receiver (OR) or Trustee appointed to deal with your case. Under the rules of bankruptcy, you must tell the OR about any changes in your financial circumstances during your bankruptcy – including windfalls such as compensation received as a result of a… Read more »

Changes To Bankruptcy And DRO Rules

Following pressure from debt advice charities and organisations, the government has agreed to change some of the rules of bankruptcy and Debt Relief Orders (DROs). Bankruptcy Clinic welcomes these changes, which will make it harder for creditors to force vulnerable people into bankruptcy, whilst making DROs – an alternative to bankruptcy – available to more… Read more »