AS of last week, some debt-stricken Islanders have been able to apply for a Debt Remission Order, which will allow their debts to be frozen for a 12-month moratorium period and then be written off, if they are still unable to pay them.
The new order, which is similar to the debt relief order used in England and Wales, is intended to update Jerseys en désastre (bankruptcy) laws and help Islanders who will never be able to repay their debts or have ended up in financial trouble through no fault of their own.
Islanders will be able to apply for a Debt Remission Order through Jersey Citizens Advice either on the grounds of adversity or financial d…
Read the full article at: http://jerseyeveningpost.com/news/2016/04/14/debt-stricken-islanders-can-apply-for-help/