IRRV Alert - week ending 13th May 2022
Information Letters
News
Consultations
Statutory Debt Repayment Plan: Consultation (13 May 2022)
Open consultation
Statutory Debt Repayment Plan: Consultation
- From:
- HM Treasury
- Published
- 13 May 2022
Summary
The government is consulting on draft regulations to introduce a new statutory debt solution known as the statutory debt repayment plan (SDRP).
This consultation closes at
11:59pm on 5 August 2022
Consultation description
The SDRP will be a new statutory debt solution focussed on repayment of debt, rather than debt relief, addressing a gap in the debt solution landscape. The SDRP will include a broad range of debts, including debts owed to the government and to creditors outside of financial services and will protect debtors from enforcement action, creditor contact, and interest, fees and charges on their debts while they repay them.
The government consulted on aspects of the SDRP in 2018/19, and published a response to that consultation in June 2019, setting out a basic blueprint for the scheme.
This consultation on the SDRP sets out the policy development that has taken place since 2019. It seeks stakeholder views on three broad areas:
- the draft regulations necessary to implement the SDRP
- questions on outstanding policy issues and operational considerations
- a consultation stage draft impact assessment
Documents
Statutory Debt Repayment Plan: consultation on draft regulations
PDF, 1.05 MB, 64 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
The Debt Respite Scheme (Statutory Debt Repayment Plan etc.) (England and Wales) Draft Regulations
PDF, 1.05 MB, 56 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
Statutory Debt Repayment Plan: consultation stage Impact Assessment
PDF, 1.13 MB, 45 pages
This file may not be suitable for users of assistive technology.
Request an accessible format.
Share this page
Published 13 May 2022