Written Question · S3W-24731 · Session 3
How much it costs the Accountant in Bankruptcy to administer the low income, low assets (LILA) scheme.
The question
To ask the Scottish Executive how much it costs the Accountant in Bankruptcy to administer the low income, low assets (LILA) scheme.
The answer
The low income, low asset (LILA) route into bankruptcy came into force on 1 April 2008, the same date from which debtor applications for bankruptcy were made directly to the Accountant in Bankruptcy rather than to the courts as previously.
LILA is an additional route into the bankruptcy process, not a separate scheme in itself, and the Accountant in Bankruptcy does not split the administration costs of the debtor application process.
The total administrative costs of the team dealing with debtor applications are estimated at £928,700 per annum.
This figure does not include fees payable to third parties associated with debtor applications which are beyond the Accountant in Bankruptcy''s direct control; principally the costs of advertising the award in the Edinburgh Gazette and registering the award with the Registers of Scotland.
LILA is an additional route into the bankruptcy process, not a separate scheme in itself, and the Accountant in Bankruptcy does not split the administration costs of the debtor application process.
The total administrative costs of the team dealing with debtor applications are estimated at £928,700 per annum.
This figure does not include fees payable to third parties associated with debtor applications which are beyond the Accountant in Bankruptcy''s direct control; principally the costs of advertising the award in the Edinburgh Gazette and registering the award with the Registers of Scotland.
In the Official Report
No contribution in the Official Report cites S3W-24731 by reference.