Tribunals, Courts and Enforcement Act 2007

Prospective

109Debt management schemesE+W
This section has no associated Explanatory Notes

(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).