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Is it Time for Change? | |||||
| The Bankruptcy and Diligence (Scotland) Act 2007 sees the period of Bankruptcy being reduced from 3 years to 1 year. The financial limit for bankruptcy has been raised from £1500 to £3000. We ask will this Act improve the enterprise economy as intended or will bankruptcy been seen as an easy alternative, resulting in soaring numbers? In all the Act has to be seen as a major effort to modernise the law of Scottish Judgement Enforcement which now must the most modern in the western hemisphere. However modern does not necessarily mean better and whether the light balance has been struck between creditor and debtor interests will have to be seen. For access to our detailed article simply log on to this site and visit the ´Knowledge Centre´, within ´DIY Toolbox´. | |||||
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