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Record number call on MABS for help

A FLOOD of people swamped by mortgage repayments have turned to the Money Advice and Budgeting Service (MABS) -- with a record 7,593 new clients seeking help in the first quarter of the year.

The majority are people aged between 26 to 40 who have large mortgages and as a result are struggling to repay loans, credit card and utility bills-- 6,162 needed mediation with creditors. Almost half of those contacting MABS were in the 26 to 40 age group, about a third were aged between 41 to 60 while 370 were under 25 and 114 were over 60. Just under 3,000 people had mortgages, while 1,300 lived in private rented accommodation and 1,142 were local authority tenants. More than half of the applications were on social welfare while 2,093 were self- employed or earning a wage.

MABS had a waiting list of 1,676 for a first appointment in its more than 60 offices across the country by the end of last year.


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