Part 5: Debt Management and Relief Schedule 18: Schedule 4ZA to the Insolvency Act 1986 Schedule 21 – Regulations under sections 111 and 113 Section 132: Expressions relating to debts
613.This section defines a “qualifying debt” as any debt that is not secured against an asset or which cannot, by virtue of the terms of the DMS, be included in the plan. A “business debt” is defined as a debt incurred in the course of a business.