Lift in bankruptcy threshold unfair, debt collector

AAP General News (Australia)
08-29-2009
Lift in bankruptcy threshold unfair, debt collector

A debt collection agency says proposed laws to raise the bankruptcy threshold fivefold
to 10-thousand dollars will harm small business.

Prushka chief executive ROGER MENDELSON says Federal Attorney General ROBERT MCCLELLAND's
plan to raise the threshold doesn't acknowledge that many debtors can repay their debts.

Mr MCCLELLAND is also proposing to increase the time from application for bankruptcy
to when assets can be taken .. from seven to 28 days.

Mr MENDELSON says the changes are uninformed .. and he doesn't know if there's been
consultation with anyone working in bankruptcy.

AAP RTV eb/jmc/wz/crh

KEYWORD: BANKRUPTCY (SYDNEY)

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