Breathing Space From Bailiffs
In a victory for common sense, Theresa May is set to introduce a so-called ‘breathing space’ for those struggling with debts.
This manifesto will offer a six-week breathing space for those people who are struggling with serious debts. During this six-week period you are able to organise your finances and put a plan of repayment together, without being chased for repayment or worry about bailiffs or creditors taking legal action against you.
May’s manifesto is considered a move for her to come good on her promises to help working families who are “just managing”. Following the snap election of 2016, she said that for an “ordinary working class family” life is “much harder than many people in Westminster realise”.
An HM treasury Spokesperson said: “We are committed to helping people overwhelmed by debt by giving them the time they need to seek advice and get their lives back on track.”
With six-week breathing space, you will find yourself in a better position to without worrying about further interest and charges.
The creditors are more likely to be repaid their money, if you have time to better organise your finances and arrange a repayment scheme.
The country as a whole will benefit as there are many problems caused as a result of debt – not least mental problems for the individual concerned.