Legal Update: Changes to Bankruptcy Minimum Debt come into force on 1 October 2015

A reminder that, on 1 October 2015, the minimum bankruptcy level of a creditor’s petition is increased from £750 to £5,000. From 1 October 2015, any creditor wishing to petition for a debtor’s bankruptcy will need to demonstrate a debt or debts in the aggregate amount of £5,000 or more, owed by the debtor to the petitioning creditor.

Please note that this information is provided for general knowledge only and therefore specific advice should be sought for individual cases.

For further information, please contact Kenny Friday at or Edward Vaughan at