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<p>The household debt-to-income ratio was 138% in Q4 2017, significantly below its
pre-crisis high of 160% in Q1 2008. However, the government recognises the importance
of supporting people who are over-indebted.</p><p> </p><p>The government is setting
up a new Single Financial Guidance Body, which will provide consumers with a single
point of contact for help with all financial matters, and commission high-quality,
free to user debt advice.</p><p> </p><p>The government is also implementing a breathing
space scheme, which will provide people with unmanageable debt a period of respite
from creditor action of up to six weeks, in order to seek debt advice and enter into
a sustainable debt solution.</p>
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