The number of people needing breathing space from their debts jumped by 25% in 2023 compared with the previous year.
Across England and Wales, there were 88,390 registered breathing spaces in 2023, comprised of 86,928 standard and 1,462 mental health breathing space registrations, the Insolvency Service said.
A standard breathing space is available to people with problem debt and gives legal protections from creditor action for up to 60 days.
A mental health crisis breathing space is available to someone who is receiving mental health crisis treatment. It lasts as long as the persons mental health crisis treatment, plus 30 days.
Breathing space numbers were 25% higher than in 2022 and, since the start of the scheme on May 4 2021, more …
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