Tom Brake Responds to Debt Statistics

August 10, 2006 11:14 AM

Tom Brake, MP for Carshalton and Wallington, has responded to the latest statistics from the Insolvency Service which indicates an increasing number of people living in the area are unable to manage their debts.

"These figures are very concerning. It is showing people not just in this area but all over Britain are finding it more difficult to cope financially.

"People need to be made fully aware of the risks involved when taking out mortgages, and also of the insurance products available to them. The quarter of a million phone calls received by National Debtline last year shows how catastrophic this is for many hard working families.

"Additionally, the fact that only one in four phone calls gets through to National Debtline shows people who need advice are not always able to get it. It is vital to increase resources to improve such valuable services.

"The latest rise in interest rates, on top of large rises in council tax and energy bills will only add further strain to family budgets"

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