The impending Debt Respite Scheme - Breathing Space Regulations
The Debt Respite Scheme SI 2020/1311 (Breathing Space) comes into force in England and Wales on 4th May 2021.
It gives individuals with problem debt the right to a statutory respite period, enabling them to work with a debt advisor to find an appropriate long-term debt solution. A welcome development, particularly given the rising numbers of people being negatively impacted financially by the fallout of the Covid-19 pandemic.
Are PCN debts allowable debts in Breathing Space?
We've seen there's been questions around Penalty Charge Notices and the validity of these 'debtors' applying for Breathing Space. To explain this clearly, we have included a break down of the regulations below for you: