A Report prepared by MABS National Development Limited (MABS ndl) for the Minister for Social Protection, Joan Burton, based on a sample of almost 6,000 cases was published today. The Report found that this group is primarily made up of households with children, located in urban areas and headed by people between the ages of 41 and 65. Furthermore, clients of the State's Money Advice and Budgeting Service experiencing difficulty with their mortgage were more likely to be unemployed, have multiple debts in addition to the mortgage, and be mortgaged to a mainstream lender. The Report, which underlines the need for a holistic, consumer-focused approach towards the whole area of consumer debt, makes further recommendations in relation to the resolution of the personal debt crisis.
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