What is a Certificate of Inapplicability for Debt Repayment Scheme ("DRS")?

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Accepted Answer

The debtor will receive a Certificate of Inapplicability once the debtor's total liabilities have been determined to exceed $150,000 after the commencement of his Debt Repayment Plan ("DRP"). This can happen anytime during the period when the DRP is in effect.

What is a Certificate of Inapplicability for Debt Repayment Scheme ("DRS")?

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