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Social fund loans in bankruptcy from March 19th 2012
----- > The Insolvency (Amendment) Rules 2012 (2012 No. 469
A Statutory Instrument amending the Insolvency Rules 1986 was laid before parliament on 27th February 2011.
The amendment relates to discretionary Social Fund loans (budgeting loans and crisis loans) and has the effect that such loans will be outside the scope of a Debt Relief Order and will still be repayable both during and after discharge from bankruptcy.
The amendment comes into force on 19th March 2012 and will apply to applications for Debt Relief Orders and petitions for bankruptcy made on or after this date.
A Statutory Instrument amending the Insolvency Rules 1986 was laid before parliament on 27th February 2011.
The amendment relates to discretionary Social Fund loans (budgeting loans and crisis loans) and has the effect that such loans will be outside the scope of a Debt Relief Order and will still be repayable both during and after discharge from bankruptcy.
The amendment comes into force on 19th March 2012 and will apply to applications for Debt Relief Orders and petitions for bankruptcy made on or after this date.
