There are a variety of ways that someone with out-of-control debts can deal with the situation by going insolvent. Bankruptcy is only one of those options, yet it is the most recognised.
The threat of losing your home, the public admission of money troubles, and that trip to court have all created the stigma that has been attached to bankruptcy – even though, for some, it is clearly their best option.
The shift from court to internet, introduced in April and the biggest change to bankruptcy rules for 30 years, was in part an attempt to eliminate that perceived shame.
“It was a real barrier for some people,” says Liz Thomas, The Adjudicator at the Insolvency Service for England and Wales. “We now have a simpler form, we have ensured the…
