Which of the following is NOT one of the non-judicial debt resolution processes under the Personal Insolvency Act, 2012?

• A. Debt relief notice.
• B. Debt write-down arrangement.
• C. Personal insolvency arrangement.
• D. Debt settlement arrangement.

Answer: (B)

Non-judicial debt resolution options under the Personal Insolvency Act, 2012 include three distinct processes: a Debt Relief Notice, which provides temporary protection from creditor actions for those who meet specific income, asset, and debt thresholds; a Debt Settlement Arrangement, a five-year plan negotiated with creditors to repay all or part of the debts; and a Personal Insolvency Arrangement, a more formal plan overseen by a Personal Insolvency Practitioner that can involve restructuring and potential write-downs of certain debts. A Debt write-down arrangement, however, is not a named separate process in the Act. While a Personal Insolvency Arrangement can involve reducing some debts, there isn’t a distinct mechanism called a “debt write-down arrangement” as its own non-judicial option. Therefore, the option described as debt write-down arrangement is not one of the formal non-judicial processes.