has much changed?

maxmycardagain

I went BR back in 2008, I paid the £350 fee (?) but by CC, the notice went in the paper, all debts were included even if not listed, the judge only asked if id taken advice and was I aware of the effects, etc and had I considered a IVP. and that was about it really

fermi

A few bits and pieces change, but still mostly the same.

alastairq

Biggest changes are the overall fees, and the amount of surplus income that is permitted..

coolcait

For people in Scotland, there have been huge changes.


Some are generally seen as 'good' - for example, since April 2008 people have been able to apply for bankruptcy without going to court. In fact, it's done by post. Since November 2010 people can apply for bankruptcy even if they don't meet the Low Income Low Asset rules, and can't show that they are 'Apparently Insolvent' - they can get a 'Certificate of Sequestration' from a money adviser or Insolvency Practitioner.


Some are still so new that there hasn't been time to get feedback from the people who are actually going through bankruptcy. Those changes include a standardised 'tool' for calculating surplus expenditure, and a four year 'Debtor Contribution Order' "which will replace the current IPA/IPO", according to the AiB website.


It's still cheaper to apply for bankruptcy here - £200 for a 'full' bankruptcy/sequestration. £90 for the new Minimal Asset Process (MAP) which has some similarities with the DRO.