MSE News: Bankruptcy threshold to be raised from £750 to £5,000

"Pensioner bonds paying a market-leading rate of 2.8% for a one-year fix and 4% for three years are now open ..."
Read the full story:

Bankruptcy threshold to be raised from £750 to £5,000

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Comments

  • This seems good news. £750 has always seemed ludicrously low, in relation to today's earnings/debt levels, etc.
    AD March 2014
    rebuilding my life :grinheart
  • alastairq
    alastairq Posts: 5,030 Forumite
    Good news, but it still has to go through Parliament....
    No, I don't think all other drivers are idiots......but some are determined to change my mind.......
  • ALIBOBSY
    ALIBOBSY Posts: 4,527 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Good news if this goes through.

    Maybe it will stop debt collectors using fake (occasionally real) statutory demands for low amounts.

    5K is a more reasonable amount and if you owe that sort of money you aren't likely to be in a position to clear it in a short time span. £750 is more likely the sort of figure that given a chance people could clear.

    Ali x
    "Overthinking every little thing
    Acknowledge the bell you cant unring"

  • chattychappy
    chattychappy Posts: 7,302 Forumite
    ALIBOBSY wrote: »
    £750 is more likely the sort of figure that given a chance people could clear.Ali x

    Usually they've been given MANY chances to clear it and have failed to do so.
  • Oblivion
    Oblivion Posts: 20,248 Forumite
    Part of the Furniture 10,000 Posts Photogenic
    MSE_Paloma wrote: »
    "Pensioner bonds paying a market-leading rate of 2.8% for a one-year fix and 4% for three years are now open ..."
    Read the full story:

    Bankruptcy threshold to be raised from £750 to £5,000

    OfficialStamp.gif

    Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.


    What has this got to do with Pensioner Bonds?
    ... Dave
    Happily retired and enjoying my 14th year of leisure
    I am cleverly disguised as a responsible adult.
    Bring me sunshine in your smile
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