The Insolvency Service has published its guidance on the Debt Respite Scheme (Breathing Space). The guidance is intended to support creditors in understanding the Breathing Space Regulations and sets out information on:
- starting a breathing space;
- what to do during a breathing space; and
- the end of a breathing space.
The guidance also covers the responsibilities of creditors, debt advice providers and the Insolvency Service. The Debt Respite Scheme comes into force on 4 May 2021.