Statutory Debt Repayment Plan put on hold
The proposed Statutory Debt Repayment Plan (SDRP), which will allow someone with qualifying debt to enter a legally protected statutory agreement to repay their debts, has been put on hold until 2023.
The delay has come in response to a stakeholder consultation with concerns being raised about a number of aspects of the instrument from scheme design to flexibility and funding.
Details on the government response can be found here . The government has said it will await the Insolvency Service led review on the personal insolvency framework before deciding on the future of SDRP.
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