'Breathing space' for those experiencing a debt crisis
Our research shows that one in five people struggling financially have been unable to afford food after making unsecured debt repayments. And we estimate that in just six months a typical StepChange Debt Charity client would see an extra £2,300 added to their debts if creditors applied interest and charges on all their accounts.
We’re campaigning for the Government to introduce a comprehensive 'breathing space' scheme to support people seeking help with their debts from a regulated debt advice provider.
- We want a scheme that will give a period of up to a year in which interest and charges are frozen and enforcement action halted, in order to give people time to get advice to recover their finances and
- Where people can repay their debts at an affordable rate and within a reasonable time, these protections should continue.
We’re working with the Children’s Society to support Kelly Tolhurst MP’s Private Member’s Bill which would bring this protection into law. Read about our work in Parliament on the ‘breathing space’ Bill.
Read more about our recommendations for 'breathing space' in our Safe Harbours report.