We welcome the Financial Conduct Authority’s temporary financial relief package that sees a standard baseline set of payment freeze and other help across the consumer credit sector take effect from Tuesday 14 April for people whose finances have been negatively impacted by the coronavirus crisis.
Peter Tutton, Head of Policy here at StepChange Debt Charity, said:
“These are crucial measures from the FCA that give clear guidance on the help and support people struggling with an income shock during the Covid-19 crisis can expect.
"It brings clarity for consumers, credit providers and the debt advice sector. There are some outstanding questions on certain specific types of credit, like high cost credit, and we are looking for more detail on this shortly.”