What is LILA?

July 2, 2009 | Posted by admin

Legislation was introduced last year in Scotland to provide Low Income, Low Asset (LILA) borrowers with an easier route to petition for personal bankruptcy. LILA is designed to enable individuals to clear debts if they aren’t able to repay them within a sensible timeframe. LILA came into force in April 2008 and by the end [...]

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