Press Release from
Mary Wallace TD
27th May 2010
Wallace encourages use of Money Advice and Budgeting Service
People who are finding themselves in financial difficulties are advised to contact their local Money Advice and Budgeting Service (MABS) office, or to contact the national MABS helpline number 1890 283438 says Mary Wallace TD.
MABS assists people who are over-indebted and need help and advice in coping with debt problems. The role of money advisers is to help clients assess their financial situation, made a budget plan and deal with creditors. MABS is now dealing with increasingly complex debt situations in respect of clients who are presenting with multiple creditors and debts. It is important the people coping with debt difficulties take early action and approach MABS for help and guidance. This can be the first positive step for people in addressing debt difficulties.
Deputy Wallace stated: “One of the worst things for people who are struggling to manage their finances is the anxiety that they have no-one to turn to for help. MABS offers a very good service, providing confidential advice to those who are over-indebted to help them cope with their debt problems. The MABS money advisors help clients to assess their financial situation, make a budget plan and deal with creditors.”
Deputy Wallace added “When people have problems with money they can feel at their most vulnerable and alone. It is important that they are aware that MABS provides free advice and guidance to deal with problems of indebtedness and MABS can help them manage their money. This free service is of great assistance to people who are in difficulties trying to deal with their day-to-day bills.”
There are 51 independent MABS companies operating the local MABS services from 65 locations throughout the country, with support provided by the MABS NDL. In addition, the MABS National Telephone Helpline is available from 9am to 8pm Monday to Friday and the MABS website can be accessed 24 hours a day at . The helpline dealt with 24,000 callers in 2009 and 11,000 in 2008. The number of calls received in 2009 remained constant throughout the year at 6,000 per quarter. Some 19,000 new clients approached MABS for assistance in 2009. This compares with 16,600 new clients in 2008 and 12,734 in 2007.
In the period January to April 2010 a total of 7,300 new clients have been seen by MABS which would indicate that the number of clients is broadly in line with the figures for 2009. In addition the MABS helpline has dealt some 47,500 calls since its launch in October 2007. Some 10,000 calls have been dealt with to date this year.
From first point of contact to first appointment with a money advisor the average waiting time is currently just over 4 weeks. This is the average nationally. During the waiting period, clients are assessed and those in need of immediate assistance are given a priority appointment. Others are provided with assisted self-help to ensure that they have taken steps to assess their situation and if appropriate, they are supported to take holding action with their creditors.
The Money Advice and Budgeting Service can be accessed in three ways:
• Through 51 MABS companies around the country which provide a face-to face service;
• the MABS website 'www.mabs.ie' which offers an online money management facility and
• the MABS national Helpline 1890 283438 (or 1890 BUDGET) which aims to provide ease of access to MABS support for those experiencing debt problems.
The contact information for local MABS offices around the country is also available on 'www.mabs.ie'
Ends