Insolvency update

15 July 2016

In October 2015 the bankruptcy threshold for individuals was raised from £750 to £5,000, the first increase in 30 years.

This means that those aiming to bankrupt an individual debtor can only do so if the debt is £5,000 or more, and the individual cannot pay. Debts under £5,000 should be pursued in the county court if an alternative agreement for payment cannot be reached.

However, the threshold for issuing a winding-up petition against a company has not increased from £750, and remains a useful tool for creditors.

News & insights

Straight to your inbox

Contact

Paul Gordon LLB

Partner

View profile

Message

Related services

Share this article

Resources to help

Visit Hub

Property misrepresentation and the new TA6 Form: What buyers need to know

Litigation & dispute resolution

The new Property Information Form (TA6) sixth edition became mandatory from 30 March 2026. Our property disputes experts share their guidance on property misrepresentation and the new TA6 form. If…

Associate, solicitor

Unfair prejudice petitions: Supreme Court confirms no time limit for claims

Corporate

The Supreme Court has recently confirmed that unfair prejudice petitions are not subject to statutory limitation periods. Our experts explain what this means. The Supreme Court’s decision overruled the Court…

Paralegal

Common vehicle dispute claims & the legal framework

Litigation & dispute resolution

Our team of experts looks into some of the most common vehicle dispute claims, highlighting the legal framework that should always be considered when making a claim. Vehicle disputes are…

Cookie	Duration	Description
__cf_bm	30 minutes	This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
mgref	1 year	This cookie is set by Eventbrite to deliver content tailored to the end user's interests and improve content creation. It is also used for event-booking purposes.
yt-player-headers-readable	never	The yt-player-headers-readable cookie is used by YouTube to store user preferences related to video playback and interface, enhancing the user's viewing experience.
yt-remote-cast-installed	session	The yt-remote-cast-installed cookie is used to store the user's video player preferences using embedded YouTube video.
yt-remote-connected-devices	never	YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-id	never	YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-fast-check-period	session	The yt-remote-fast-check-period cookie is used by YouTube to store the user's video player preferences for embedded YouTube videos.
yt-remote-session-app	session	The yt-remote-session-app cookie is used by YouTube to store user preferences and information about the interface of the embedded YouTube video player.
yt-remote-session-name	session	The yt-remote-session-name cookie is used by YouTube to store the user's video player preferences using embedded YouTube video.
ytidb::LAST_RESULT_ENTRY_KEY	never	The cookie ytidb::LAST_RESULT_ENTRY_KEY is used by YouTube to store the last search result entry that was clicked by the user. This information is used to improve the user experience by providing more relevant search results in the future.

Cookie	Duration	Description
_ga	2 years	The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gat	1 minute	This cookie is installed by Google Universal Analytics to restrain request rate and thus limit the collection of data on high traffic sites.
_gid	1 day	Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
_s	1 year	This cookie is associated with Shopify's analytics suite.
G	1 year	Cookie used to facilitate the translation into the preferred language of the visitor.
vuid	2 years	Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.

Cookie	Duration	Description
VISITOR_INFO1_LIVE	6 months	YouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
VISITOR_PRIVACY_METADATA	6 months	YouTube sets this cookie to store the user's cookie consent state for the current domain.
YSC	session	Youtube sets this cookie to track the views of embedded videos on Youtube pages.

Cookie	Duration	Description
debug	never	No description available.
SESSION	session	Description is currently not available.

Let us help you

Let us help you

Let us help you

Let us help you

Straight to your inbox

Insolvency update

In October 2015 the bankruptcy threshold for individuals was raised from £750 to £5,000, the first increase in 30 years.

News & insights

Straight to your inbox

Contact

Paul Gordon LLB

Partner

Related services

Share this article

Resources to help

Related articles

Property misrepresentation and the new TA6 Form: What buyers need to know

Kafula Chipasha LLB (Hons)

Associate, solicitor

Unfair prejudice petitions: Supreme Court confirms no time limit for claims

Mekayla Rose-Innes LLB (Hons)

Paralegal

Common vehicle dispute claims & the legal framework

Kafula Chipasha LLB (Hons)

Associate, solicitor