Regulation 8 Common financial tool: exclusion of rent and mortgage arrears, debtor’s contribution

in paragraph (2A), after “subject to” insert “paragraph (2AA) and”; and

after paragraph (2A), insert—

“(2AA)

Where the debtor is an individual, despite paragraph (2A) debts which are—

(a)

constituted by a lease or tenancy agreement; or

(b)

secured by a standard security (to the extent that the sum is arrears of a periodic payment due to be paid under a loan agreement so secured),

may be excluded from the debt payment programme, to the extent that such debts relate to the debtor’s sole or main residence.”.