A total of 289 people on the Isle of Wight have accessed the government’s new Breathing Space scheme, according to official figures.
Breathing Space provides a 60 day period with no additional interest, charges or creditor action while people get debt advice.
National Debtline has provided free advice by phone to 114 Isle of Wight residents in the last year, and is urging people to get in touch this ‘Talk Money Week’
The Breathing Space scheme launched in May 2021.
National Debtline – one of the free debt advice charities able to register people who are eligible for Breathing Space – is urging more people to seek advice as the cost of living crisis continues.
Breathing Space – also known as the Debt Respite Scheme – gives eligible people who contact debt advice services and seek advice and find a safe route out of debt, without being subject to creditor collection and enforcement activity.
David Cheadle, acting Chief Executive of National Debtline's parent charity, the Money Advice Trust, said:
“The cost of living crisis has had a huge impact on household finances and people on the Isle of Wight and right across the South East are struggling to cope.
"I would urge anyone on the Isle of Wight who is worried about their finances to contact our advisers at National Debtline, who can give you the advice and support you need.
“Our advisers are here to help – and can see if you are eligible for the Breathing Space scheme to give you the time and headspace you need to make a plan."
Isle of Wight residents can speak to an adviser for free, independent advice – including on the Breathing Space scheme – over the phone on 0808 808 4000 or online.
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