• From The Debt Advice Bureau:

    Bad News For Bad Faith Bankrupts

    A growing number of bankrupts are being targeted for Bankruptcy

    Restrictions Orders (BROs) as Official Receivers pursue those

    bankrupts who are believed to have acted in bad faith and contributed

    to their bankruptcy, according to figures released today.

    Anyone thinking they can rack up loads of debt and use bankruptcy as

    an easy way to walk away form their responsibilities needs to think

    again. “The screw is tightening on those who have been guilty of

    misconduct”, says Desmond Flynn, Inspector General and Agency

    Chief Executive of the Insolvency Service.

    In the six months to September 2005, 165 people have been made

    subject to BROs or Bankruptcy Restrictions Undertakings (BRUs) for

    periods ranging from 2 to 11 years. In addition, the Secretary of

    State has issued directions to take p…

    Click to read the full article »

    Posted by Jon @ 2:25 pm

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