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Monthly company and individual insolvency statistics for England and Wales, as well as Northern Ireland, and monthly company statistics for Scotland, in response to the coronavirus (COVID-19) pandemic. For England & Wales, Breathing Space scheme statistics are also included. For England & Wales and Scotland, the numbers of company moratoriums and restructuring plans are also included.
Some 13,000 more people could benefit from a solution designed to help them with problem debt from next month, under proposals published by the Government today. The Insolvency Service announced a raft of changes to Debt Relief Orders, which have been described as 'bankruptcy-lite' and are aimed at those who have little money to pay their debts. From 29 June those who owe less than £30,000 will be able to apply for a DRO, up from £20,000 currently. The application comes with a £90 fee which will remain unchanged, despite a review by regulators in February calling it 'a significant barrie...
New measures to help vulnerable people in problem debt The government will legislate to increase the number of people eligible for Debt Relief orders, helping more people to get out of problem debt. From: 10 May 2021 More people will be able to access the debt solution, giving them a fresh start, as a result of the changes announced today, which will come into force at the end of June. The changes to DRO eligibility criteria will see the level of debt at which people can apply for a DRO increase from £20,000 to £30,000. It is expected that over 13,000 more people may use DROs in the nex...