A plan to help people in serious debt, by potentially giving them a six-week grace period from things like higher interest charges, has been announced by the Treasury.
The Government said it was launching a consultation until January on how its “breathing space” scheme could work and in what circumstances amid concerns about growing problem debt levels among “millions of people in the UK”.
:: Four million consumers falling behind on debt
It was revealed in the summer that unsecured credit – which is borrowing through credit cards, overdrafts and car loans – had topped £200bn for the first time since the financial crisis.
Regulators and economists have sounded warnings that the annual rate of growth in that total – at ju…
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