Bankruptcy reforms ‘will lead to jump in personal insolvency’
‘DEBT experts yesterday warned that personal insolvency north of the Border could soar after the Scottish Executive published proposals to slash the bankruptcy period to one year from three.
Insolvency practitioners claimed the number of consumers being declared bankrupt - already at record levels - could surge as much as 30 per cent within a year.
That came after ministers unveiled key bankruptcy reforms, which include cutting the “discharge” period for individuals and small businesses.’
Read more at Bankruptcy reforms ‘will lead to jump in personal insolvency’
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