The Insolvency Service has signed NTT Data as its digital delivery partner for the Statutory Debt Repayment Plan (SDRP) for England and Wales.
They have agreed on a two-year, £10.7 million deal under which the company will help to develop and configure the SDRP system and deliver it in a live state for the management of applications.
The plan is being developed to enable people with problem debts to enter a statutory agreement to combine debts into a single plan and repay them to a manageable timetable. It will provide legal protections from any creditor actions as long as it in place.
HM Treasury is currently considering the responses to a second consultation, which closed earlier this month, focused on the policy issues, regulation and operational considerations.
An impact assessment published in May includes an indication, although there will be an effort to draw on existing systems and processes and much as possible, there will be a need for new ones to support the scheme.
It also acknowledges that creditors will face some administration costs and says they should not be forced to develop new electronic systems to interface with the Insolvency Service’s electronic service.
