Breathing Space

Breathing space protects you from your creditors

Breathing space protects you from your creditors

Breathing Space

The Debt Respite Scheme, also known as breathing space, allows someone with problem debt the right to protection from their creditors.

You can only apply for the breathing space scheme via an FCA authorised debt advice firm and this is usually done while a debt solution is being processed for you.

A standard breathing space lasts for 60 days, whilst a mental health crisis breathing space lasts for the entire crisis treatment plus an additional 30 days.

Once the breathing space is in force, your creditors must stop all debt recovery action against you for the duration of the breathing space. They will also freeze most interest and charges.

You are only allowed 1 breathing space in a 12 month period.

Whether the breathing space is appropriate for you would depend on your circumstances and requires specialist debt advice. Speak to one of our debt counsellors by clicking on the link below.