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11/09/2009
Foster Reinforces Commitment To Dealing With Debt
Enterprise Minister Arlene Foster has reinforced her commitment to helping those who are burdened with debt.
The Minister was speaking at the second Northern Ireland Discussion Forum's Annual Conference, which was supported by the Money Advice Liaison Group. The conference entitled 'Debt Collection in a Downturn', offered a platform for debate on important issues relevant to today's society and economic climate.
Speaking to a wide cross-section of representatives from business, government and community and voluntary sectors, Ms Foster said: "The economic downturn is being felt right across Northern Ireland and its effects are making debt one of the most serious and damaging problems affecting the community.
"My department is seeking to help those in financial difficulty by providing help at the earliest opportunity, including easy access to face to face advice.
"We awarded a £1.2 million, three-year contract to the Citizens' Advice Bureau last year, to maintain this much-needed service up to 2011. Nearly 2500 new clients used this debt facility between 2008-2009, with associated debt of £24.5 million. This represents an increase in total debt of 77.5% on the previous year.
"Unsurprisingly, 2009 has seen continued demand on services. During the first quarter of the year, from April-June, advisers dealt with around 530 new clients owing over £6 million of debt.
"I appreciate that debt is a complex issue, to which there is no single solution and I am committed to working with the existing debt advice network, to help bring forward initiatives as we seek to address the problem of debt in our society."
Hosted by Ulster Bank, conference delegates also heard from Eric Leenders, Executive Director of Retail, British Bankers' Association and Debbie Mills, Manager of the Consumer Credit Counselling Service, who gave presentations on their insight into 'Debt Collection in a Downturn' from both the perspective of a creditor and that of a debt adviser.
(KMcA)
The Minister was speaking at the second Northern Ireland Discussion Forum's Annual Conference, which was supported by the Money Advice Liaison Group. The conference entitled 'Debt Collection in a Downturn', offered a platform for debate on important issues relevant to today's society and economic climate.
Speaking to a wide cross-section of representatives from business, government and community and voluntary sectors, Ms Foster said: "The economic downturn is being felt right across Northern Ireland and its effects are making debt one of the most serious and damaging problems affecting the community.
"My department is seeking to help those in financial difficulty by providing help at the earliest opportunity, including easy access to face to face advice.
"We awarded a £1.2 million, three-year contract to the Citizens' Advice Bureau last year, to maintain this much-needed service up to 2011. Nearly 2500 new clients used this debt facility between 2008-2009, with associated debt of £24.5 million. This represents an increase in total debt of 77.5% on the previous year.
"Unsurprisingly, 2009 has seen continued demand on services. During the first quarter of the year, from April-June, advisers dealt with around 530 new clients owing over £6 million of debt.
"I appreciate that debt is a complex issue, to which there is no single solution and I am committed to working with the existing debt advice network, to help bring forward initiatives as we seek to address the problem of debt in our society."
Hosted by Ulster Bank, conference delegates also heard from Eric Leenders, Executive Director of Retail, British Bankers' Association and Debbie Mills, Manager of the Consumer Credit Counselling Service, who gave presentations on their insight into 'Debt Collection in a Downturn' from both the perspective of a creditor and that of a debt adviser.
(KMcA)
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Citizens Advice to provide debt guidance
Citizens Advice in Northern Ireland has been awarded a debt advice contract by the government. Minister Maria Eagle said: "Debt in Northern Ireland is having an adverse economic, social and personal impact on the lives of many people here. This new debt advice contract will help clients to regain control of their financial affairs.
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CAB predicts major debt payment crisis in NI
With the Bank of England poised to raise interest rates tomorrow and court action on mortgage defaults in Northern Ireland up 32% on this time last year, the Citizens Advice Bureau (CAB) has predicted a major debt payment crisis in the province in the coming months.
CAB predicts major debt payment crisis in NI
With the Bank of England poised to raise interest rates tomorrow and court action on mortgage defaults in Northern Ireland up 32% on this time last year, the Citizens Advice Bureau (CAB) has predicted a major debt payment crisis in the province in the coming months.
14 January 2009
Citizens' Advice Deals With Debts
Credit cards, personal loans and bank loans are foremost in the work of a government-backed debt advice service. At this 'fag-end' of the year - when pre-Christmas excesses begin to bite on finances - debt advice funded by the Department of Enterprise, Trade and Investment is said to be helping the most vulnerable in Northern Ireland society.
Citizens' Advice Deals With Debts
Credit cards, personal loans and bank loans are foremost in the work of a government-backed debt advice service. At this 'fag-end' of the year - when pre-Christmas excesses begin to bite on finances - debt advice funded by the Department of Enterprise, Trade and Investment is said to be helping the most vulnerable in Northern Ireland society.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
