Our latest whitepaper focuses on Breathing Space (or Debt Respite Scheme) that will be in place from the 4th of May 2021, while at the same time, it sheds light on the challenges that creditors will likely face.
Executive summary
While Breathing Space processes have already been in place for quite a long time, a new regulatory
scheme will debut next month in England and Wales. As global debt continues to rise, the moratoriums have multiple aims. Besides enabling people to seek help for problem debt, it also allows creditors to centralise their interactions with customers and treat bad debt cases through standarised processes.
To achieve that, creditors must leverage technologically advanced solutions as operational efficiency needs to be front and center.
Through our special report, we analyse the technological capabilities needed by creditors to efficiently handle a great number of cases in a limited timeframe:
- What is the new Breathing Space legislation
- What does it look like in practice?
- What are the key challenges for creditors?
- What capability do you need to implement the necessary changes?
