FLA comments on the Government’s new Breathing Space announcement

Commenting on the Government’s new Breathing Space period, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “Today’s announcement by the Government of a statutory 60 day breathing space will extend to those with council tax and utility debts, the same type of protection that has been available to consumer credit customers for some years under the Financial Conduct Authority’s very successful Breathing Space scheme.

“The challenge now is for Government, the FCA and the consumer credit industry to work out how the two schemes can coexist without creating confusion for consumers or expensive duplication for lenders.”