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Bankruptcy changes will “hit councils hardest”


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Figures released to the firm by the Insolvency Service show that 15 per cent of bankruptcy orders were made for debts of less than £5,000 last year – that’s 785 of the 5,235 total creditor petitions for bankruptcy.

 

 

 

Obtaining payment through other means, such as county court judgments, is often unsuitable due to the cumbersome nature of the process and the lower prospects of recovery.

 

Moore Stephens said that local authorities and housing associations, which often suffer numerous small debts, are likely to be hit particularly hard by the change.

 

 

I think this would be wrong to have an exemption for Local and Housing Authorities.

 

 

Moore Stephens urged policymakers to consider an urgent public sector carve-out to the new bankruptcy rules, allowing bodies such as councils and housing associations to pursue debts of a lower value in order to stem losses from cumulative smaller bad debts.

 

Finch added: “Without the ability to use bankruptcy proceedings as part of their recovery programmes, creditors such as local authorities will now struggle to recoup any payment on these debts.”

 

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