comparemela.com

Latest Breaking News On - தன்னார்வ ஏற்பாடு - Page 1 : comparemela.com

Government Debt Relief Order changes could help thousands more freeze what they owe

Some 13,000 more people could benefit from a solution designed to help them with problem debt from next month, under proposals published by the Government today. The Insolvency Service announced a raft of changes to Debt Relief Orders, which have been described as bankruptcy-lite and are aimed at those who have little money to pay their debts. From 29 June those who owe less than £30,000 will be able to apply for a DRO, up from £20,000 currently.  The application comes with a £90 fee which will remain unchanged, despite a review by regulators in February calling it a significant barrier to uptake .  Debt Relief Orders are aimed at those who have little money to pay mounting debts

Government launches Breathing Space debt respite scheme

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.

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.