General Debt respite scheme
Breathing Space: A period of time where enforcement action, fees and certain forms of interest are paused on the eligible debts of people in problem debt while they engage with professional debt advice (known as a moratorium).
Debt respite scheme: Consisting of two parts: ‘Breathing Space’ and the SDRP and referred to as ‘the scheme’ in these explanatory notes.
SDRP: Statutory Debt Repayment Plan. A revised agreement between the debtor and their creditors as to the amount owed on their eligible debts and the timetable over which they have to be repaid and which provides the same protections as Breathing Space for the debtor.