Consultations on Proposals to raise threshold levels for entry to the debt relief scheme and to increase the creditor petition limit in bankruptcy

The two consultations detail policy proposals to:-

• raise the limits on debt and assets for eligibility for a debt relief order
• increase the minimum amount of debt at which a creditor can petition for the debtor’s bankruptcy

These changes will require amendments to the Insolvency (Northern Ireland) Order 1989 and associated subordinate legislation.

The consultations are open for responses until 12th November 2015.