Record numbers seeking help with debts

A record 7,593 new clients were dealt with by the Money Advice and Budgeting Service in the first quarter of the year, with personal loans the biggest problem.

More worrying is the profile of the majority of those seeking help — people aged between 26-40 — who because of the size of their mortgage repayments are struggling to repay loans, utility, and credit cards bills.

The figures from MABS show of the 7,593 people who contacted the state debt service, 6,162 needed mediation with creditors, with MABS helping to set up special accounts for 340 clients in partnership with credit unions.