The debt trap - A time for patience

OUR changed economy makes it inevitable that some people find themselves struggling with debts.

The Combat Poverty Agency yesterday launched a policy document aimed at helping individuals too deeply ensnared in borrowings.

At the launch we were told that the Money and Advice Budgeting Service (MABS) is under unprecedented strain because so many people are struggling. Combat Poverty estimates that between 7% and 10% of households owe more than they can easily repay.

Government must insist that financial institutions show the same patience and co-operation with their customers as has been afforded to those institutions.