Commenting on the government announcement of a new 60-day “breathing space” scheme to begin in 2021 for those with problem debt,
Becky O’Connor, personal finance specialist at Royal London, said:
“Problem debt can happen to anyone at any time in their life. It’s not necessarily the result of someone failing to manage their money properly, but can be the consequence of sudden misfortune, ill health, job loss, divorce or caring responsibilities, for example.
“Any one of us could benefit from this breathing space period at some time in our lives, as a result of struggling in unforeseen circumstances.”
For further information please contact:
Becky O’Connor, Personal Finance Specialist
- Email: Rebecca.O'Connor@royallondon.com
- Tel: 0203 2725 434
- Mob: 07967 613925
About Royal London:
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.