Legislation – Tribunals, Courts and Enforcement Act 2007
Changes to legislation:
Tribunals, Courts and Enforcement Act 2007, Section 132 is up to date with all changes known to be in force on or before 01 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.![]()
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Part 5Debt management and relief
Chapter 4Debt management schemes
Various
132Expressions relating to debts
(1)
All debts are qualifying debts, except the following—
(a)
any debt secured against an asset;
(b)
in relation to a debt repayment plan which has been requested or arranged, any debt which could not, by virtue of the terms of the debt management scheme, be specified in the plan.
(2)
A business debt is any debt (whether or not a qualifying debt) which is incurred by a person in the course of a business.