Breathing Space Guidance Published

Regulatory Updates | 24/12/20

The Debt Respite Scheme (Breathing Space) Guidance for creditors and the Guidance for money advisors were published on 24th December 2020.

The scheme will give someone in problem debt the right to legal protections from creditor action. This guidance is for providers who want to set up a breathing space for clients to give them time to get advice and find an appropriate debt solution.

Breathing Space comes into force on 4th May 2021.