Increase to bankruptcy level

1 octoberFrom 1 October 2015, the amount required to be owed in order for a bankruptcy petition to be presented by a creditor against an individual is to be increased from £750 to £5,000.

We have addressed the question of what this increase means for both creditors and debtors and we asked Mark Sands, partner at Baker Tilly Creditor Services LLP and current President of the Insolvency Practitioners Association, how he thought the increase in the bankruptcy level might affect the insolvency profession.

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