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LILA Archives - Bankruptcy UK

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Low Income Low Assets (LILA) Bankruptcy

Do you qualify for LILA bankruptcy?  (Applies in Scotland) To qualify, you must meet the following criteria:

You must earn no more per week than the standard national minimum wage for a forty-hour working week – currently £237.20.

You must have no assets worth more than £1,000 individually, and combined assets worth no more than £10,000.

If you receive income-based jobseekers’ allowance, income support or working tax credits, these won’t be included in the assessment of your weekly income, even if you’re actually earning more than £237.20 a week in total.

 

 

Bankruptcy UK

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