The Scottish Government is currently carrying out a review of the bankruptcy legislation that was introduced by the Bankruptcy and Debt Advice (Scotland) Act 2014.
This review will assess, wherever possible, the impact of the changes made to bankruptcies through this legislation.
As part of this review, a consultation has been launched.
This provides you with an opportunity to give your view on the changes that were introduced in 2015 and also the issue of statutory interest and child maintenance debt. The consultation will run until 11 February 2020 and all responses will be considered.
We aim to issue a report on this consultation by 10 March 2020 and this will be posted on the Scottish Government website.
Responses should be emailed to AiB Policy Development or sent to: Russell Haddow, AiB, 1 Pennyburn Road, Kilwinning, Ayrshire, KA13 6SA by 11 February 2020.
The Scottish Government has also confirmed that the Common Financial Tool, introduced by the Bankruptcy and Debt Advice (Scotland) Act 2014, will continue to be the Common Financial Statement from 1 April 2020. The spending guidelines for the CFT will be updated prior to 1 April and all users will be notified in advance of this update.