Clifford Chance

Breathing Space Regulations

18 May 2021

The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (the "Breathing Space Regulations") came into force on Tuesday 4 May 2021. Broadly, the new regulations provide individuals in the UK experiencing debt problems legal protections against their creditors, and primarily affect most types of personal debts and particularly unsecured debts (although arrears amounts under secured debts such as mortgage loans are also affected).

The government guidance for creditors can be found here.

The full text of the Breathing Space Regulations can be found here.

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