How Budget Changes are Redefining Personal Insolvency

Discover how recent changes to debt relief orders (DROs) in the spring budget are poised to reshape the landscape of personal insolvency.

Fewer bankruptcies forecast after budget change – Exclusive

Partner and Head of Insolvency & Restructuring, Kathryn Maclennan was invited to share her thoughts on the potential impact of these alterations. With the elimination of the £90 administrative fee for DROs effective from April 6 and other amendments increasing the debt threshold and vehicle value allowances, a significant decrease in bankruptcies is predicted. This shift reflects a broader strategy to offer accessible debt solutions, and while the move is praised for its potential to provide relief to those in dire financial straits, experts point to the polarisation of debt solutions and looming questions about resource allocation.

Source: Klarents Media