• From The Debt Advice Bureau:

    Tougher Bankruptcy Restrictions for Middlesbrough Man’s Credit

    Card Spending Spree

    Colin Robert John Cliff, from Middlesbrough, has become the first

    person in the North East region to be subjected to tougher bankruptcy

    restrictions as he was found him guilty of “unreasonable

    extravagance”, the Insolvency Service reported today. He will

    now be subject to bankruptcy restrictions for the next three years.

    Soon after losing his job last year, Mr. Cliff ran up debts of

    £4,284 on his new credit card. Over twenty days he used the card

    to pay for a holiday, clothes, accessories and to make cash

    withdrawals, even though he had no prospect of being able to repay

    what he spent. Less than six weeks later he filed his own petition

    for bankruptcy with his debts now standing at an estimated £13,740.

    Changes to the l…

    Click to read the full article »

    Posted by Jon @ 2:25 pm

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