Chancellor Jeremy Hunt has announced new measures to help people in debt, as the cost of living crisis continues to bite.
In his Spring Budget today (6 March), Hunt said he would increase repayment programmes for those taking advanced loans from 12 months to 24 months.
He also pledged to abolish the £90 debt relief charge, which he claimed would help around 40,000 “struggling” families.
“For some people, the best way to resolve debts is through a debt relief order,” he said.
“But getting one costs £90 which can deter the very people who need them the most.”
A debt relief order is one way for people to deal with debts.
Debtors can make an application if: they owe £30,000 or less; do not own their own home; do not have other assets or things of value; and do not have much spare income.
Chancellor Jeremy Hunt has announced new measures to help people in debt, as the cost of living crisis continues to bite.
In his Spring Budget today (6 March), Hunt said he would increase repayment programmes for those taking advanced loans from 12 months to 24 months.
He also pledged to abolish the £90 debt relief charge, which he claimed would help around 40,000 “struggling” families.
“For some people, the best way to resolve debts is through a debt relief order,” he said.
“But getting one costs £90 which can deter the very people who need them the most.”
A debt relief order is one way for people to deal with debts.
Debtors can make an application if: they owe £30,000 or less; do not own their own home; do not have other assets or things of value; and do not have much spare income.
