Bankruptcy minimum threshold set to increase
Did you know the bankruptcy minimum threshold will catapult from £750 to £5,000? This immense increase is due to come into force from October 2015. It will mean that in order to petition for the bankruptcy of somebody that owes you or your business money, the minimum owed will be set at £5,000. There will no longer be the option of a statutory demand where the debt is over £750.
But don’t be dismayed there is a solution – apply for a County Court Judgment. View our video on how to apply for a CCJ. We’d be also happy to offer advice and if required put you in touch with our independent panel of experts.
When you have obtained a County Court Judgment (CCJ) and the amount owed is over £600 (including the debt, court fees and interest) and less than 6 years old, then why not use our fast and free transfer-up service to High Court Enforcement?
We don’t charge for administering the transfer up service to the High Court, which can be undertaken via our online form or by post. There is a court fee of £60 payable which will be added to the debtor costs.
We have also produced an animated video alerting freelancers and small companies to the option of transferring up their unpaid CCJ to the High Court. See our video.
Transfer up a CCJ to High Court – What to do next
To instruct us there are three options available:
Option 1 (for same day action)
- Complete the online instruction form and upload the copy of the sealed judgment, relevant photographs and documents.
- You will receive a copy of the instruction via email straight away – Print this for your records.
- Phone us or we will phone you to arrange to pay the £60.00 Court Fee by Credit or Debit Card.
Option 2
- Complete the online instruction form.
- You will receive a copy of the instruction via email straight away – Print this for your records.
- Send by post a copy of your instructions together with photocopies of your sealed judgment, any related documents and your cheque for £60.00 payable to Her Majesty’s Courts & Tribunal Service (or HMCTS). The postal address is:
Court Enforcement Services Ltd PO Box 737 Waltham Abbey Essex EN8 1LJ
Option 3
- Download the instruction form
- Complete & sign – retain a copy for your record
- Send the instruction form by post together with photocopies of a copy of your sealed judgment, any related documents and your cheque for £60.00 payable to Her Majesty’s Courts & Tribunal Service (or HMCTS). The postal address is: Court Enforcement Services Ltd PO Box 737 Waltham Abbey Essex EN8 1LJ
