Changes to legislation in relation to Debt Relief Orders as follows:
Increase from £1,000 to £2,000 in respect of individual assets.
The value of a single motor vehicle that can be disregarded is also raised from £1,000 to £2,000.
A debtor will be permitted to have a surplus monthly income of £75 before he /she needs to make payments to creditors, an increase of £25 per month.
Finally, the limit for the value of debt allowable for a Debt Relief Order will increase from £20,000 to £30,000.
Should you wish to discuss, free of charge, any financial concerns, whether business or personal, call our office on 01282 332222