A Burton insolvency expert has backed Government plans to allow people struggling with debts a vital six-week breathing space to get their finances in order.
The proposals will give cash-strapped people protection from further interest, charges and enforcement action while they seek solutions to their financial problems.
The six-week moratorium will allow people the chance to seek further consultation and advice on how to turn their situation around by setting up repayment schemes while interest payments and new charges on debt are frozen.
Martin Smith, an insolvency expert from Dains Accountants in First Avenue, Burton said the new breathing space scheme – which is aimed to become law by 2019 – could give people the time necessary to re…
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