Debt charity devises Covid payment plan

Leading debt advice charity StepChange is to launch its Covid Payment Plan (CVPP) in mid-November, designed to give people more time before being required to resume full repayments on their debts. The plan was developed after consultation with HM Treasury and the lending sector.


Insolvencies on the rise

To what extent the increases can entirely be attributed to the pandemic is unclear, but the latest figures show that bankruptcies rose by 34% in September when compared to the previous month. In total there were 1,036 bankruptcies – 963 debtor applications and 73 creditor petitions.

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