30/09/2009 – Regulation of personal debt management schemes
The Ministry of Justice has launched a consultation in relation to the regulation of personal debt management schemes.
NB - The consultation paper, 'Debt Management Schemes – delivering effective and balanced solutions for debtors and creditors', explores whether there would be benefits for debtors through -
- more consistent operators' charges
- interest and other charges being frozen once a payment plan has been agreed
- the opportunity to pay off debts over time without requirements to sell homes or other assets
- protection from enforcement procedures from creditors (unless the creditor receives court permission)
- better advice on the full range of options available to deal with debt problems.
The deadline for responding to the consultation is 18 December 2009.
The consultation paper Debt Management Schemes – delivering effective and balanced solutions for debtors and creditors is available from the Ministry of Justice website.
Other lasa websites