This is a great idea. Do we know if this will show on credit reports?
I’ve thankfully never had to be in the position, but I do think that it’s not helpful when a lot of debt management schemes get a marker placed on a person’s credit report that impact them adversely and can lead them into much more risky debt (I’m thinking payday loans though I accept that area has been cleared up quite a bit of late).
The ability to request a small period of time for legal enforced interest freeze to manage what for a lot of people might just be a momentary blip (moving homes, changing jobs, redundancy etc) without any detriment to their future would be amazing.
I struggle, morally, with quite how much information and power these few (some foreign) companies have over people and their lives and futures.