Debt Respite Scheme (Breathing Space)

The Debt Respite Scheme, commonly known as Breathing Space, is a financial relief program in the UK that provides temporary protection for individuals struggling with debt. It allows people to pause creditors from taking action to recover debts for 60 days, giving them time to assess their financial situation and seek help. During this period, interest and fees on debts are frozen, allowing individuals to focus on budgeting and exploring options, such as debt management or counseling, without the immediate pressure of repayments. This scheme aims to provide necessary relief and support for those facing financial difficulties.