Budget announcement on breathing space ‘a call to arms’ to tackle debt misery, says Citizens Advice

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Budget announcement on breathing space ‘a call to arms’ to tackle debt misery, says Citizens Advice

Category : Money & Debt

Friday 02 November 2018

Citizens Advice has responded to the government announcement on debt breathing space and interest-free loans.

Gillian Guy, Chief Executive of Citizens Advice, said:

“Improvements to the breathing space scheme and a proposal for an interest-free-loan scheme are welcome news from Treasury.

“We expect this lead to be a call to action to the public and private sectors, and to regulators, to tackle the misery of debt and help more than one million people who are forced to turn to high-cost credit.

“The government should now reinforce these initiatives by overhauling its own debt collection practices, including regulating bailiffs. It should also ensure specialist debt advice is readily available for people alongside breathing space and that the Financial Conduct Authority cap the cost of rent-to-own agreements by April 2019.”