Part 5Debt management and relief

Chapter 4Debt management schemes

Introductory

110Debt repayment plans

1

A debt repayment plan is a plan that meets the conditions in this section.

2

The plan must specify all of the debtor's qualifying debts.

3

The plan must require the debtor to make payments in respect of each of the specified debts.

4

It does not matter if—

a

the plan requires payments of different amounts to be made in respect of a specified debt at different times;

b

the payments that the plan requires to be made in respect of a specified debt would, if all made, repay the debt only in part.