September 20, 2011
The government has announced it will consult on increasing the bankruptcy petition level for creditors from the current £750.00. Welcoming the proposal, R3 (Association of Business Recovery Professionals) has long campaigned for a rebalancing of the relationship between creditors and debtors as a number of creditors petition for bankruptcy on low levels of debt. R3 is recommending an increase to £3,000.00 which it now deems more appropriate.
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