Commenting on the Government announcement about Breathing Space, Craig Simmons, Head of Debt Policy and Strategy at the Money and Pensions Service said:
“Having worked on the policy behind Breathing Space, it’s great to see it coming into effect in 2021. We welcome the fact that many people will benefit from 60 days without contact from their creditors. In this time, they can get debt advice and put a plan of action in place, all without further interest and charges being added to their debts.
“Breathing space has a particular role in helping those struggling with mental health and money problems to receive appropriate support. This policy is one of many landscape shifting initiatives we expect to see as part of the UK Strategy for Financial Wellbeing, and we continue to trial, deliver and promote other interventions which can make a real difference to people’s lives.”
For media enquiries contact:
About the Money and Pensions Service
The Money and Pensions Service vision is everyone making the most of their money and pensions.
MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP), and has a joint commitment to provide access to the information and guidance people across the UK need, to make effective financial decisions over their lifetime. The organisation also engages with HM Treasury on policy matters relating to financial capability and debt advice.
MaPS brings together the free services previously delivered by the Money Advice Service, The Pensions Advisory Service and Pension Wise. MaPS offers customers guidance and appointments over the telephone, online and in person.
For further information stakeholders should visit the Money and Pensions Service website www.moneyandpensionsservice.org.uk