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Bankruptcy process 'should be speeded up'

Published on 17 Nov 2009 under category: legal

Plans to make it quicker and easier to file for bankruptcy have been welcomed by the Consumer Credit Counselling Service (CCCS).

Last week, the government announced that people submitting applications for bankruptcy can now do so online or through the post rather than having to appear in court.

This service is aimed at people with high levels of debt who will struggle to pay them off in full and instead choose to file for insolvency.

Commenting, a spokesman for the CCCS said that it "makes sense" for the process to be speeded up as this will make the alleviation of debt quicker.

However, the representative warned that this system would only be beneficial if "the necessary steps are taken to review a debtor's petitions for bankruptcy and [the applicants] make sure it is the best course of action they can take".

The most recent figures from the Insolvency Service show that there were more than 35,000 insolvencies in England and Wales in the third quarter of the year.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.