Member Article
The North East chair of insolvency and restructuring trade body R3 has welcomed the introduction of the new breathing space scheme which gives people with money worries a period of time free from creditor pressure in which to start tackling their money problems.
Alexandra Withers was speaking after the governments Debt Respite Scheme, known informally as the breathing space scheme, came into effect.
Under the scheme, people will be given legal protections from their creditors for 60 days, with interest and penalty charges frozen on all debts which qualify for the scheme, and enforcement action halted.
They will also receive professional debt advice to design a plan which will help to get their finances back on track and…
Read the full article at: https://bdaily.co.uk/articles/2021/05/17/new-breathing-space-rules-to-help-north-east-people-with-debt-worries