CAP has signed a Joint letter to the HM Treasury proposing a Statutory Debt Repayment Plan (SDRP)
CAP has joined StepChange Debt Charity, PayPlan and UK Finance to ask the Government to:
- Introduce the Statutory Debt Repayment Plan (SDRP) at the earliest opportunity, combining eligible debts into one affordable repayment plan with protections including frozen interest, fees and charges, and paused recovery and enforcement action.
- Expand access to free debt advice and unlock an estimated £16 million annually from FCA-regulated creditors and £8 million from utility providers to support debt advice and administration.
- Ensure SDRP covers essential-service arrears alongside credit debts, and commit to a wider review of sustainable funding for free debt advice.
