SB 13-60 Bankruptcy and Debt Advice (Scotland) Bill

The Bankruptcy and Debt Advice (Scotland) Bill is a Scottish Government Bill. It proposes to make a number of changes the personal bankruptcy regime in Scotland, including:

  • providing for compulsory money advice
  • requiring financial education in certain circumstances
  • introducing a “common financial tool” to be used to calculate the payment a debtor may be expected to make to their creditors
  • introducing a new route into bankruptcy for those with little by way of income and assets – the “Minimal Asset Process”
  • extending the period for which the practical consequences of bankruptcy may be felt to four years
  • removing automatic discharge from bankruptcy
  • transferring a number of functions from the sheriff court to the Accountant in Bankruptcy

Read SPICe briefing:

Published: 19 September 2013

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