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Debts

Volume 487: debated on Wednesday 4 February 2009

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform (1) what estimate his Department has made of (a) the number of individuals subject to and (b) failing to meet the terms of debt management plans in each of the last four years; (244420)

(2) what representations from (a) individuals and (b) businesses his Department has received regarding the working and effectiveness of debt management plans in the last year;

(3) what recent representations his Department has received from individuals and organisations on the regulation of debt management plans; and if he will make a statement.

As noted in my earlier written reply to the hon. Member on 15 December 2008, Official Report, column reference 425W; because a debt management plan (DMP) is an informal agreement between a debtor and his creditors there is no official estimate of their numbers. The only representations received regarding the working and effectiveness of DMPs have concentrated on whether some debtors would be better placed in individual voluntary arrangements rather than DMPs.