Best Dispute Resolution Solicitors in Kidderminster

Since May 2021 individuals owing money to creditors have a limited further protection but have been given some Breathing Space.  Protection is given from action taken by creditors (people who you owe money to) for up to 60 days. This is good news for people struggling to pay their debts giving an opportunity to take advice without interest and charges accruing.

If individuals are receiving mental health treatment the protection will last until 30days after the treatment has stopped.

There are some conditions:

1.       The scheme can only be started by a debt advice provider (authorised by the Financial Conduct Authority) or a local Authority if they are providing the debt advice. They will then administer the particular scheme for that individual.  

2.       Individuals have to be assessed by a debt advisor as being in problem debt and they have to confirm that the scheme is appropriate

3.       That individual cannot have used the scheme for last year

4.       The debt has to be a qualifying one (defined in Regulations)

5.       The individual must not have available and accessable funds  

Once a creditor has been told of the arrangement they must stop any action relating to it.

The hope is by making enforcement tools open to creditors a little less blunt and enabling advice to be taken repayments will actually increase.

This will benefit the creditors and the individual debtors.

For further advice about debts that you owe or are owed you need local solicitors to help you. For your Dispute Resolution Solicitors in Stourport and your Dispute Resolution Solicitors in Kidderminster contact www.hb121solicitors.co.uk or telephone 01562 702655.