A TOTAL of 292 Solihull residents have sought debt advice from the government’s Breathing Space scheme last year – according to debt advice charity National Debtline.
And now it is urging more people to seek advice as the costs rise further and the impact of global events hits bills.
Breathing Space – also known as the Debt Respite Scheme – gives eligible people who contact debt advice services like National Debtline the time to seek advice and start to find a safe route out of debt, without being subject to creditor collection and enforcement activity.
The scheme provides up to 60 days protection, and pauses any additional charges or interest for that period.
Since the scheme was introduced in 2021, 1,405 people in Solihull have used the scheme to get this vital debt help.
The pressures facing households in Solihull mirror what is happening nationally.
In England and Wales, one in every 550 adults (equivalent to 89,132 people) entered into Breathing Space last year.
As separate figures from the Money and Pensions Service reveal 14 per cent of people in Solihull are in need of debt advice, National Debtline is urging anyone worried about their finances to contact their debt advisers for free, independent advice as soon as possible.
Jack Sporcic, a debt adviser from National Debtline, said: “Behind every Breathing Space application is someone trying to find a way to cope. At National Debtline, we’re hearing from people who have never struggled with their finances before, but rising costs have pushed them into difficulty.
“Breathing Space gives people time and protection and our advisers can help people understand if it is right for them. Everyone’s situation is different and even if you aren’t eligible for this specific scheme, our advisers will help you find the best option for you.”
Recent research with people helped by National Debtline highlights that after speaking to an adviser, four in five callers saw their debts reduce or stabilise and three in four reported a positive impact on their emotional and mental wellbeing.
Jack added: “No one should be worrying about debt alone. We urge anyone in Solihull worried about their finances to contact National Debtline as early as possible.”
Anyone worried about their finances can contact National Debtline for free on 0808 808 4000 or find expert advice here.
