Valid from 24/02/2009

Part 5 E+W Debt management and relief

Prospective

Chapter 4 E+W Debt management schemes

Various E+W

132 Expressions relating to debts E+W

(1) All debts are qualifying debts, except the following—

(a) any debt secured against an asset;

(b) in relation to a debt repayment plan which has been requested or arranged, any debt which could not, by virtue of the terms of the debt management scheme, be specified in the plan.

(2) A business debt is any debt (whether or not a qualifying debt) which is incurred by a person in the course of a business.