As from 1 October 2015 the Insolvency Act 1986 (Amendment) Order 2015 (SI 2015/922 has amended Section 267(4) of the Insolvency Act 1986 such as to increase the bankruptcy level for a creditor’s bankruptcy petition from £750 to £5,000. Accordingly, for undisputed debts less than £5,000 a Statutory Demand will no longer be available
Jury duty is a part of life that most citizens have to go through. It is a simple way of giving back to the community by serving as a peer to an accused. The selection of jurors is done through a randomized process that draws from the most recent voters
If you find yourself in a difficult financial position the thought of declaring bankruptcy has probably crossed your mind a few times. It is important to meet with a bankruptcy lawyer to discuss your situation and the possible outcomes if you do file for bankruptcy. There are approximately 1.25 million
Bankruptcy has the power to wipe away all or most personal and company debt, but it is not without side affects. Bankruptcy will affect your credit score negatively for several years to come. The process is long and complicated but an experienced Birmingham attorney at Parkman & White will help
One of the major concerns people face when declaring bankruptcy is what assets they will be able to keep. While bankruptcy eliminates many problems for debtors giving them a fresh start, it does come at a cost. There are state and federal bankruptcy laws that dictate which property is exempt
According to the Small Business Association (SBA), small business bankruptcies increased from 19K in 2006 to 43K in 2008, before the economy crashed. Since small business employs more Americans than any other sector, ways to avoid financial trouble should be of paramount importance in today’s private sector. From general best
When I first started my business, I fell for a common mistake that many new business owners fall for. I paid way too much for the transportation of my goods to vendors and other outlets. My business almost went under, and I was almost in shambles. All of a sudden
In this post we’ll take a look at the potential offences that may be committed by a director if they engage in the management of a company when they are under a bankruptcy order. We’ll therefore look at the following elements: When may a director be disqualified from taking part
The rising cost of healthcare is making it expensive for regular people to seek out medical services. Even if health insurance has been purchased, many companies will pay for specific services to a certain dollar amount, or about 60 percent of bills, and leave the rest to the patient. Many
(US law and generally) The effect of a bankruptcy filing in the United States on debts owed to an ex-spouse pursuant to a divorce depends upon what chapter of bankruptcy a person files. Generally speaking, individuals file bankruptcy under either Chapter 7 or Chapter 13 of the Bankruptcy Code. These
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