1,000 new clients at Waterford MABS owe total of €16m

NEW clients of one branch of the Money Advice and Budgeting Service (MABS), which has one of the highest referrals rates in the country, last year owed more than €16 million between them.

The Waterford branch of the free state service last year had 1,084 new clients. This means on average each person owed about €15,000.

Also last year, €315,823 was repaid to creditors through the service’s Special Account Scheme, a bill-paying scheme operated as a partnership between clients, MABS and their Credit Union.