The Government's consultation proposing to raise monetary limits on the criteria for obtaining a Debt Relief Order are welcome, but barriers to accessing the debt solution remain. Read a summary of our response to the consultation here...
“Dealing with money worries – a guide to your options” is a new resource from R3, and sets out the statutory amd non-statutory options for dealing with debt, for anyone worried about their financial situation.
The draft legislation for the breathing space scheme has been published - this post sets out how it may look in practice, and R3's support for the measure to help people in debt find an appropriate solution...
A closer look at the results of R3’s member survey on COVID-19, which found that the majority of respondents expect a spike in personal insolvency numbers towards the end of this year, and the start of 2021...
On May 15th, for the first time, the Insolvency Service (IS) releasedmonthly figuresfor corporate and personal insolvencies (NB: corporate: England & Wales, Scotland; personal: England & Wales). The IS said that it was publishing on a monthly (rather than quarterly, as previously) basis “to provide more up to date information on the numbers of companies and individuals who are unable to pay debts and enter a formal insolvency procedure as the coronavirus (COVID 19) pandemic continues”.
James Jeffreys
Stuart McBride
Jo Tacon
