Tribunals, Courts and Enforcement Act 2007 (c. 15)

Valid from 24/02/2009

Part 5 E+W Debt management and relief

Prospective

Chapter 4 E+W Debt management schemes

Introductory E+W

109 Debt management schemes E+W

(1) A debt management scheme is a scheme that meets the conditions in this section.

(2) The scheme must be open to some or all non-business debtors.

(3) A scheme is open to a non-business debtor if it allows him to make a request to the scheme operator for a debt repayment plan to be arranged for him.

(4) The scheme must provide that, if such a request is made—

(a) a decision must be made about whether a debt repayment plan is to be arranged for the non-business debtor, and

(b) such a plan must be arranged (if that is the decision made).

(5) The scheme must be operated by a body of persons (whether a body corporate or not).