Britons with mounting debts will be able to ask for them to be put on hold for two months after proposals two years in the making came into effect today.
The so-called Breathing Space scheme, announced in 2019 after a five-year campaign from debt charities, will allow debtors to apply for a break from any enforcement action from creditors and for interest and fees to be frozen.
The 60-day break from spiralling credit and the threat of debt collectors being sent round is supposed to give borrowers chance to work out their financial situation and options that could help them get out of debt.
Peter Jones-backed camera chain Jessops files to hire administrators
thisislocallondon.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisislocallondon.co.uk Daily Mail and Mail on Sunday newspapers.
Peter Jones-backed camera chain Jessops files to hire administrators
surreycomet.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from surreycomet.co.uk Daily Mail and Mail on Sunday newspapers.