Theresa May is under pressure to fulfil her pledge to give people struggling with debts breathing space from the bailiffs as figures show that half the British population are financially vulnerable.
A cross-party group of peers, including a former Tory minister, is planning to bounce the prime minister into handing those in difficulty a grace period, during which they would be protected from enforcement proceedings and mounting interest charges. They would be able to use the time to seek help.
A proposal for a six-week breathing space was included in the Tory manifesto but has yet to be enacted.
With official figures suggesting that almost 8 million people are over-indebted, the government is facing a Lords rebellion over the issue….
Read the full article at: https://www.theguardian.com/money/2017/oct/21/households-in-debt-breathing-space-bailiffs