General review - stage 2

This stage involves a review of existing debt solutions to determine if any changes are needed which can be considered by the new Parliamentary session.  These include

  • Moratorium period;
  • The Common Financial Tool – tool for assessing a contribution in debt solutions
  • Statutory interest within bankruptcy and Protected Trust Deeds
  • The Economy Committee’s recommendations on Protected Trust Deeds
  • Bankruptcy issues – debt thresholds for Minimum Asset Process bankruptcy and creditor petitions
  • The repayment periods in debt solutions
  • Composition/exit from solutions

As part of this work a number of working groups will be established.

Invitation to join Stage 2 working group – 22 January 2021