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Consultation on changes to the rules on recovering debt
In the last general election, the Government promised to amend the law to help those in debt and are now consulting on changes to debt recovery procedures.
Responses are being sought on the following two changes:-
- A 60-day breathing space scheme for individuals in problem debt; and
- A statutory debt repayment plan to supplement existing debt solutions.
Parks will need to keep abreast of changes if they manage their own debt recovery or should seek legal advice. You can keep up to date with developments here.