Get some Breathing Space

Breathing Spacea new government scheme to assist individuals with problem debts and/or mental health issues.

The Government is introducing a new scheme to be known as “Breathing Space”.

This is a breathing space period which will freeze interest, fees and enforcement for people in debt and to provide further protection for those in treatment for mental health issues.

Individuals with debt and those facing mental health issues, will be helped by the government to get their finances in line and under control.  A 60-day “breathing space” period will mean enforcement action from creditors is halted and interest frozen for people with problem debt.  During this time, individuals will have to receive professional debt advice.

Individuals receiving mental health treatment will also receive protection from creditors until their treatment is completed.

Debts owed to local authorities/government creditors will also be included under the new government scheme along with debts for credit cards and loans etc.

It is hoped that by assisting the individuals with this scheme, this will enable them to get their finances back on track meaning repayments to creditors can commence.

We are advised that the scheme is set to come into force in or by May 2021 and we expect further information about the scheme in due course.

At Else solicitors we pride ourselves in dealing with debtors in a realistic but also compassionate way which ensure we take great care in distinguishing between can’t pay and won’t pay.

Contact Laura Charles to see if you can get some breathing space.

Direct Line: 01283 526210

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