Alliance Castlereagh Councillor Sara Duncan has said that soaring personal debt across the UK and Ireland has got to the extremes that it requires Government intervention.
Cllr Duncan, who is heavily involved with the local Citizens’ Advice Bureau, stated: “Latest Government figures for Northern Ireland, as well as England and Wales, show personal debt is continuing to soar. More and more people are going bankrupt and suffering poor credit ratings. These rises are matched by figures for the Irish Republic.
“These figures come as no surprise. Already Citizens’ Advice Bureaux in Greater Belfast are reporting a huge increase in queries concerning personal debt as a proportion of their work. Families and careers are on the verge of breakdown due to this problem.
“We live in a society where accessing credit, in the form of credit cards and personal loans, is far too easy. People’s lives are being destroyed by fear of rising debt and inability to clear it.
“Late last year a common database among some credit card companies was announced to try to help the problem. However, government intervention is now clearly required.”