Breathing Space

The Debt Respite Scheme, commonly known as Breathing Space, is a government scheme designed to help people find a more permanent solution to their debts. You can only access this through an FCA regulated debt adviser, Advice Debt are not able to enter you into this scheme, but you can find more about it below.

What is Breathing Space?

Struggling with problem debt?

Take a breath of relief as Breathing Space is here to help! Introduced in 2021 throughout England and Wales, this scheme offers temporary protection from creditors; plus, all interest and charges will be paused. With the duration providing time for you to get your finances back on track, reporting any changes while keeping up regular payments like mortgage repayments or taxes are necessary actions within the arrangement.

Learn more about Breathing Space here!

Standard Breathing Space

Standard breathing space will help put your debts and any enforcement action on hold for 60 days, this allows you more time to consider the options available to you.

The benefits of breathing space are:

We cannot enter you into this scheme and you will need to speak with an FCA regulated debt adviser.

Mental Health Breathing space

A mental health breathing space is available to those who are undergoing treatment for their mental health. Any referrals made must be certified by an Approved Mental Health Professional (AMHP).

A mental health breathing space acts in a similar way to a standard breathing space, however, all enforcement action is put on hold for 12 months or for as long as your undergoing treatment.

You will need to seek advice from an FCA regulated debt adviser and Advice Debt are unable to process applications for Breathing Space.

How do I qualify for Breathing Space?

Below is the eligibility criteria for breathing space:

What debts can't be included in the Breathing Space Scheme?

Below is the list of debts that are not eligible for breathing space.

Scotland's version of Breathing Space

With the introduction of new coronavirus legislation in 2020, people living in Scotland now have access to an extended debt moratorium lasting six months – providing a much needed opportunity for Scots facing financial distress.

Under this Moratorium on Diligence law, creditors are prevented from taking action during the period and individuals can take stock of their situation with confidence that they will be given extra time free from creditor interference.

This scheme is exclusive to Scottish residents; separate but similar plans exist elsewhere in Britain too.

The Scottish government recently proposed making such breathing space periods permanent – allowing struggling households across Scotland peace-of-mind when it comes to managing recurring debts into 2023 or beyond!

Why choose Advice Debt?

We can help you.

We all know how difficult it can be to manage our finances when we’re juggling debt and an ever-changing financial situation. That’s why we are here for you today offering expert advice that will put your mind at ease! We’ll work with what matters most, getting out from under the load of persistent debts so they don’t continue weighing down on every aspect of life.

Advice Debt Top Tips

Do I really need to buy this?
Avoiding debt can be a challenge in our modern world, where it's easy to get overwhelmed by all the temptations of spending. To stay on track with your finances, take some extra time before big purchases and ask yourself if you truly need that item.
Make budgeting a good habit
Mapping out and keeping track of your spending is essential for financial stability and success. Developing a budget can help you save money, recognize potential overspending habits before they start, as well as protect against unexpected expenses. Mastering the practice of creating an effective budget plan will go long way in helping to improve your overall credit rating.
Knowing your credit score
An excellent credit score is essential for any individual looking to access financial assistance. Without this metric, lenders may deny borrowers mortgages, car loans and other financing options; even something as simple as a phone contract could come at an immense price with the wrong rating. Therefore, it's important that you understand how your credit score can impact your life in various ways - from getting approved for major purchases to making sure you are paying reasonable costs on everyday transactions.
Borrow or save?
Deciding whether to save or borrow can be a difficult choice that carries lasting consequences. Saving may mean having less cash on hand in the present, but potentially avoids financial trouble down the road. Conversely, borrowing provides quick access to funds now; however if payments are not made in full and on time it could create prolonged problems with debt repayment. Ultimately, saving is often considered the safer option for making major purchases.
Have I checked the interest rates?
Before taking the plunge and borrowing money, take a look at that all-important APR. Keep in mind interest rates can vary dramatically - so make sure you research what sort of additional cost is involved with taking out your loan to ensure it fits within your budget!
Switching your credit card
Take advantage of low-interest credit cards to save yourself some money! Doing the research, you may even find a card with 0% APR - however this won't last forever. Make sure that if you switch providers and get one at zero percent interest, make it your priority to pay off debt during that period or else once it ends, interest rates will be added in full force.
Saving for a rainy day
Don't let debt be a factor in your future plans. A smart money move is to start putting away just a little bit each week - every penny counts! For example, squirreling £5 per week adds up over time; by the end of one year you'll have saved an impressive total of £260 (and if placed into savings that could grow even more!).
Don’t bury your head in the sand
Don't let your dilemma fester. If you find yourself in trouble, seek out professional advice to get back on the road to financial freedom. Advice debt services are well-equipped with experts who specialise in helping people resolve issues quickly and discreetly – so don’t hesitate to reach out for guidance!

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Complete our Online Form

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The first step always feels like the hardest, but you’ve come to the right place.

Step 2

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Tell us about your situation, and we’ll tell you exactly what help you’re entitled to.

We’ll inform you about what solutions you qualify for, and answer any questions you may have along the way.

Step 3

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We know that debt is daunting, but after speaking with us, we can put together a personal action plan to put your mind at ease.

We’ll help set things up and support you in dealing with your debts, for however long is needed.

We've already helped 1,000 people this year

Our team of experts help thousands of families every year across the UK get their finances back on track.

Is Breathing Space right for you?

We can discuss your eligibility.

Prefer to speak later?

We will offer guidance, support and a solution at a time that suits you.

*To find out more about managing your money and getting free advice, visit Money Helper, an independent service set up to help people manage their money.

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