Point in time view as at 01/10/2021.
Insolvency Act 1986, Cross Heading: Preliminary is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Textual Amendments
F1Pt. 7A inserted (24.2.2009 for certain purposes otherwise 6.4.2009) by Tribunals, Courts and Enforcement Act 2007 (c. 15), ss. 108(1), 148(5), Sch. 17; S.I. 2009/382, art. 2
(1)An individual who is unable to pay his debts may apply for an order under this Part (“a debt relief order”) to be made in respect of his qualifying debts.
(2)In this Part “qualifying debt” means (subject to subsection (3)) a debt which—
(a)is for a liquidated sum payable either immediately or at some certain future time; and
(b)is not an excluded debt.
(3)A debt is not a qualifying debt to the extent that it is secured.
(4)In this Part “excluded debt” means a debt of any description prescribed for the purposes of this subsection.]
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