OR's deposit to increase to £525 from June 1st 2011 (Total = £700 to go BR)

debt_doctor

There is no reason why the IS cannot be funded by 'cycle' in that perhaps their overall budget can be evened out over maybe 10 years allowing for the lean years to be compensated by the more fruitful years when properties rise in value.
Increasing fees (and a more harsh regime) has had the effects of fewer going bankrupt (that and the attractiveness of DROs) which reduces revenues still further. The IS need to break the cycle they have created.
DD

fatbelly

debtinfo wrote: »

This would make the situation much much worse, DRO's are are part of the problem, Whilst being very good news for debtors, the cost of them is uite clearly not met by the fee charged so doing more of them would just leave a bigger deficit to the IS

Are you sure? These are insolvencies where there are no assets and effectively no surplus income. It doesn't seem like the OR does much work or spends much time on average, per case. Most of the donkey work is done by the Intermediary and then the process is automated.

I would have though that taking these cases out of regular bankruptcy would be a help.

But I'm not holding my breath about it.