Govt reveals 'breathing space' plans for those with problem debt

‘Time to seek advice’

Julian Marr
clock • 3 min read

The government has unveiled plans to give those struggling most with money worries a period of 'breathing space' that would allow them time to seek financial advice on how to manage and relieve their debt burden.

HM Treasury announced this morning the government was seeking views with a view to developing a way to provide a period of up to six weeks that would be free from further interest, charges and enforcement action. "Although many people can and do use credit successfully to manage their personal finances, for the minority who get into difficulties this government wants to offer more support," the statement said. "Problem debt, where people are falling behind on their financial repayments or see their debt as a heavy burden, affects millions of people in the UK. A six weeks' grace period...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Two arrested over suspected £153m TikTok tax scam

Two arrested over suspected £153m TikTok tax scam

Accused of promising financial rewards for personal details

Jen Frost
clock 04 June 2026 • 2 min read
FCA warns Premier League clubs on unauthorised financial firm sponsorship deals

FCA warns Premier League clubs on unauthorised financial firm sponsorship deals

'Questionable deals' could put fans’ cash at risk

Jenna Brown
clock 03 June 2026 • 3 min read
Quilter Invest launches targeted support offering

Quilter Invest launches targeted support offering

Uses an attitudinal-based assessment

Jen Frost
clock 01 June 2026 • 1 min read