A NEW breathing space scheme for people drowning in problem debt has come not a moment too soon, according to an insolvency trade body for Dorset.
R3 Insolvency has welcomed the introduction of a 60-day grace period to allow people to get their finances back on track without receiving worrying letters or facing enforcement action.
The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 also freezes penalties and interest on debts during the grace period.
As well as legal protections, anyone using the scheme will receive professional debt advice to plan the way ahead.
R3 has been among the organisations calling for such measures to support people who are unable to affor…
Read the full article at: https://www.dorsetecho.co.uk/news/19287783.new-scheme-help-drowning-debt-supported-dorsets-r3-insolvency/
