Latest Debt News
Blackpool bankruptcies and repossessions rising
05/01/2006 13:54:00
The number of mortgage repossessions and bankruptcies in Blackpool is growing fast, according to new figures.
There has been a 17 per cent rise in bankruptcies, while mortgage repossessions have risen 80 per cent, with some 239 orders being issued in the last three months.
Blackpool's Euro MP, Chris Davies, wants more to be done to advise people about debt and to ensure they know what they are doing when it comes to loans secured against their homes and credit card spending.
He said: "People should be able to get quick and easy access to help as soon as they start having money troubles. All too quickly a small debt grows out of control and people don't know where to turn."
Meanwhile, Mike Barry, a debt project development manager at Blackpool's Citizens Advice Bureau, added: "The message to people must be before you even think of calling one of those companies that advertises on the television to clear your debts with a secured loan, take some independent advice on what other options are available to you."
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