CREDIT CRUNCH DEBT ADVICE SESSIONS ON OFFER

Residents are being urged to take early advantage of a free debt advice service offered by Erewash Borough Council and the Charity Derbyshire Housing Aid before it is too late.

The Council’s Housing Options Team is able to aid residents with financial difficulties by showing how to best manage their money and by helping to renegotiate mortgage and debt payments before they get into serious difficulties.

The announcement follows the release of figures by Erewash Citizens Advice Bureau (CAB) which show an increasing trend developing in the number of people in mortgage and debt arrears. In 2007/08 the CAB handled a grand total of 1,692 new debt issues but this year they dealt with 341 cases in the first six weeks alone.

Experts have also warned residents about the dangers of Sale-and-Leaseback schemes which do not offer you the same protection as owning your home. Bosses at the Council and Mortgage Lenders Association have urged residents to seek out as much advice as possible to safeguard against repossession.

Information highlighting the advice and services that are on offer at the sessions is available at local Libraries, GPs, solicitors and Estate Agents. The Council is offering the free debt advice clinics every Wednesday at Ilkeston Town Hall where an advisor will be on hand to speak to residents who are concerned about their debt problems.

Four appointments, running hourly between 1pm and 4pm, are on offer every week and anyone who contacts the Council’s Housing Options Team for housing advice and who has debt problems will be booked an appointment. In addition, people can contact the Team on 0845 9072244 extension 3590 to make an appointment.

Councillor Carol Hart, Erewash Borough Council’s Deputy Leader and Lead Member for Community Services, said: “It is vitally important that anyone who is struggling or is concerned about debt repayments to come and visit our team early.

“Often people tend to leave it to the last minute or only see the Council as a social landlord but we provide important free advice to anyone in Erewash with a mortgage or a loan.

“Many people are now under pressure with the increased interest rates and fixed term mortgages which have been recently renegotiated. I would urge anyone with any debt worries to make an appointment with our Housing and Homeless team so they can help you to plan a solution.”

                                                                              ENDS