D’Arcy pushes for more MABS resources

Published on Wednesday, 01 February 2012 13:47

The recession is biting hard and personal indebtedness is at an all-time high. In my role as a public representative this is unfortunately one of the most common areas that people come to me for help. The circumstances behind most people’s financial misfortunes nearly always involve recent unemployment or pay cuts. The knock-on effect is them struggling to make ends meet in the short term and them ignoring long term commitment such as mortgage on other loans. In nearly all circumstances I refer people to MABS – the Money Advice and Budgeting Service.

I know the staff in the Wexford branch of MABS very well and I understand the tremendous service they deliver to people in difficult circumstances. MABS is a free, not-for-profit agency that gives people real practical advice on how to get out from under the mountain of debt they have found themselves in. Whether this is through bad borrowing or bad lending, MABS offers pragmatic non-judgmental advice, to help get you out of the problem. If necessary, they will deal with your creditors on your behalf and come up with affordable payment plans.

As a result of the recession MABS has been swamped with calls from people looking for help. I have been pushing at the highest levels for more resources for MABS. The recent case of debt management agency, Dunne Maxwell (trading under yourmoney.ie) highlighted how unscrupulous companies can prey on desperate people, leaving them in an even worse financial mess.

MABS is a real alternative to immoral, corrupt and unregulated debt management agencies. We in Government need to support the work that MABS does, and make it more open, more accessible and greater resources. MABS gives people a chance to manage their heavy debt burdens and move on with their lives.

Since the advent of the recession I have been fighting for additional practical assistance for people who have been caught on the wrong side of the recession. MABS is a real example of practical ways that we can help people and it is my goal that they get the additional resources necessary for them to assist an even greater number of people.