Govt reveals 'breathing space' plans for those with problem debt

‘Time to seek advice’

Julian Marr
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The government has revealed plans to give those struggling most with money worries a period of ‘breathing space’.
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The government has revealed plans to give those struggling most with money worries a period of ‘breathing space’.

The government has unveiled plans to give those struggling most with money worries a period of 'breathing space' that would allow them time to seek financial advice on how to manage and relieve their debt burden.

HM Treasury announced this morning the government was seeking views with a view to developing a way to provide a period of up to six weeks that would be free from further interest, charges and enforcement action. "Although many people can and do use credit successfully to manage their personal finances, for the minority who get into difficulties this government wants to offer more support," the statement said. "Problem debt, where people are falling behind on their financial repayments or see...

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