Friday 28th April 2023 13:15 BST
The number of people taking “breathing space” from their debt problems has soared by more than a third year-on-year, official data shows.
There were 23,179 registrations for the relief in the first three months of 2023, up 34% from the same period in 2022, according to Insolvency Service figures.
Of this total, 22,770 were standard breathing space registrations and 409 were made for mental health reasons.
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Cost of living latest
The latest statistics come as the rate of inflation eased slightly but still remains above 10%, with food and drink costs at a 45-year high.
The scheme provides legal safeguards for people with problem debt, giving them time to get advice and plan…
Read the full article at: https://www.coastfm.co.uk/news/business/cost-of-living-annual-surge-in-people