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Difference between revisions of "Instalment Payment Orders"
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Instalment Payment Orders (view source)
Revision as of 16:02, 12 October 2018
, 16:02, 12 October 2018→Is the remedy viable?
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=== Is the remedy viable?=== | === Is the remedy viable?=== | ||
Instalment payment orders are a useful remedy for debtors, but in limited circumstances: | Instalment payment orders are a useful remedy for debtors, but in limited circumstances: | ||
* '''There are only one or two major creditors | * '''There are only one or two major creditors''': The client should not be in default to, or unable to pay, more than one or two major creditors. Applying for orders for several creditors is cumbersome; other remedies such as proposals are probably more efficient.
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* '''The client has sufficient income | * '''The client has sufficient income''': The client must have sufficient income to pay off the full amount owed, as well as other debts, within a reasonable time.
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* '''There are special circumstances | * '''There are special circumstances''': The court must generally be persuaded that there are special circumstances to justify such an order. It is the responsibility of the debtor to demonstrate the justification.
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Advocates should take the initiative to propose an instalment repayment agreement with the creditor, whether or not legal action has been started, rather than simply relying on the possibility that the court will make such an order. An application for any instalment payment order should probably be made only if the advocate cannot negotiate an arrangement directly with the creditor. | Advocates should take the initiative to propose an instalment repayment agreement with the creditor, whether or not legal action has been started, rather than simply relying on the possibility that the court will make such an order. An application for any instalment payment order should probably be made only if the advocate cannot negotiate an arrangement directly with the creditor. | ||
