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Who are the clients / debtors ? How are they ?

Who are the clients / debtors ? How are they ?. Can’t Pay? or Won’t Pay?. HOLISTIC ALL DEBT ALL INCOME ALL OUTGOINGS AND THE DEBTOR’S PERSONAL CIRCUMSTANCE. MINIMUM INCOME STANDARDS Sufficient Income to meet acceptable everyday living costs

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Who are the clients / debtors ? How are they ?

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  1. Who are the clients / debtors ? How are they ?

  2. Can’t Pay? or Won’t Pay?

  3. HOLISTIC • ALL DEBT • ALL INCOME • ALL OUTGOINGS AND • THE DEBTOR’S PERSONAL CIRCUMSTANCE

  4. MINIMUM INCOME STANDARDS Sufficient Income to meet acceptable everyday living costs A small amount toward savings for emergencies and life events

  5. PERSONAL INSOLVENCY • UNABLE TO PAY DEBTS AS THEY BECOME DUE • UNFORESEEABLE THAT THE DEBTOR WILL BECOME SOLVENT OVER THE 5 YEAR PERIOD

  6. FIVE TIER SYSTEM Bankruptcy Personal Insolvency Arrangement Debt Settlement Arrangement Debt Relief Certificate Voluntary Arrangement

  7. DEBT RELIEF CERTIFICATES Dept of Justice has requested that MABS take on the role of Intermediary for DRCs

  8. MABS & Personal Insolvency Trusteeship Public Service Personal Insolvency Trustees • A new Department within MABS benefitting from the ethos, reputation and established good practice • Money Advisers currently do almost all the work which would be expected of a PIT

  9. ADVOCATE and/or TRUSTED INTERMEDIARY ?

  10. HOPE for individual debtors • STRUCTURE and certainty for creditors • BENEFITS for society & economy

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