ADVICE CENTRES NEEDED TO PREVENT PEOPLE SINKING INTO UNCONTROLLABLE DEBT

4.07.56pm UTC (GMT +0000) Thu 17th Aug 2006

More advice centres are needed to help prevent people sinking into repossession and bankruptcies says Hazel Grove and Liberal Democrat MP Andrew Stunell.

Mr Stunell said

"Britons are in debt to the tune of a trillion pounds, with 290 people a day declared bankrupt. That is 10 people a week in Stockport -every one a personal disaster."

"Unfortunately there is too much irresponsible lending and aggressive marketing to individuals of personal loans and credit. Lenders have a duty to stop these practices and provide better levels of advice on debt."

"The Government needs to work with the financial services industry to establish independent advice centres that will help prevent people stumbling into financial crisis."

Mr Stunell offered this advice

"For anyone struggling with mounting debts, the best thing to do is contact the CAB or the Welfare Rights Unit at the Town Hall, who both have experts on debt management, and can often help avoid losing your home or going into bankruptcy"