Surge in calls to MABS seeking advice on finances

A RECORD 9,500 people contacted the Money Advice and Budgeting Service (MABS) in the first three months of this year, up nearly 3,000 on the end of 2010 as more and more families feel financial pressure.

Almost 6,000 of those who contacted MABS this year needed further assistance, with the most pressing debt a personal loan, followed by a utility bill.

MABS spokesman Michael Culloty said that, for the first time, a very high number of people seeking help — 40% of new clients — had a mortgage.