Britain’s three million households plagued by debt will be given extra time to pay it off under Tory plans
A 'Breathing Space' scheme will protect people from being crippled by soaring costs
BRITAIN'S three million households plagued with persistent debt will be given extra time to pay it off under plans unveiled in the Tory manifesto.
A “Breathing Space” scheme will protect people from being crippled by soaring interest rates, one-off charges and enforcement action for a period of up to six weeks.
Theresa May’s manifesto says it will help those who have spiralled into problem debt after struggling with the cost of living, which can “compound family breakdown, worklessness, stress and mental health issues”.
A repayment plan backed by law will help households with serious debt get back in the black “in a manageable way”.
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The scheme will help people get proper advice and assistance to escape persistent debt.
Recent figures showed consumer debt had risen to its fastest in ten years, with borrowing hitting a whopping £1.9 billion in just one month.