Could Bankruptcy Costs Increase for Debtors? Asks IVA Insolvency Company, IVAonline.co.uk
During a debate at Insolvency Today’s annual conference, the chief executive of the IS, Stephen Speed, declared that the number of bankruptcy cases where there were no assets had reached a tipping point and taxpayer money will have to foot the bill for the shortfall. The IS was forced to write off £81 million earlier in 2011 due in part to individuals having no assets as well as those having valueless or much lower value assets due to the weak...
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