'Breathing space' for indebted consumers
A scheme to help the four million consumers with high levels of debt get their finances in order could be expanded across the UK. Anyone going for help to debt advice services will be able to apply for time off from repayments and interest whilst they work out a plan to fix their finances.
It’s expected to come in to force next year – and has been welcomed by debt charities across the board who say this is vital to help Brits overwhelmed by cash problems. A similar scheme already exists in Scotland and is working well.
