On 24 October 2017, HM Treasury published a Call for Evidence to implement a breathing space scheme so that someone in serious problem debt may apply for legal protection from further interest, charges and enforcement action for a period of up to six weeks.
The Call of Evidence follows the government’s commitment to encourage consumers to access the help they need to make effective financial decisions throughout their lives. The provision of readily available debt advice remains a government priority.
Following the responses received, the government hopes to gain further insight from the debt advice sector and creditors about the scale of the issue, and about how best to design, implement, administer and monitor a six-week breathing space scheme and statutory debt repayment plan.
The deadline for responses is 16 January 2018.