This stage involves a longer term strategic review of the debt solutions to assess if they meet the needs of a modern economy. This work is likely to include consider
- Critical assessment of existing debt solutions to establish if they are fit for purpose and meet the needs of a modern economy
- Treatment of the family home in debt solutions
- Need for assessment of trading entities within the personal insolvency system – whether they need to be treated differently
- Funding of the insolvency/debt system
- Regulation of the insolvency system
This work will be led independently from AiB and the Scottish Government and we expect this to commence later in 2021.