Gov't Plans To Offer 'Breathing Space' To Millions In Debt
Law360, London (February 6, 2020, 5:03 PM GMT) -- The Treasury announced plans on Thursday to order retail banks and other creditors to freeze interest payments, charges and enforcement on millions of people in debt for two months every year for a decade.
Britain's finance ministry said its proposed “breathing space” initiative is designed to help individuals struggling with their mental health as a result of debt. The initiative will cost businesses as much as £2 billion ($2.6 billion) over 10 years, mostly in missed interest payments.
The government hopes the program will contribute £13.6 billion to the economy over the next decade in higher rate of debt recovery, as well...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!