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Foster: Funding for free debt advice to to double

Thursday, 3 July 2008

Economy Minister Arlene Foster has announced that funding for free face-to-face debt advice in Northern Ireland is to double.

Additional funding worth £400,000 will be available in April 2009 and will run for two years.

Speaking at the Northern Ireland Discussion Forum’s Conference on Debt and Mental Health at the Stormont Hotel in Belfast, Mrs Foster said: “I commend the work that has already been done by the voluntary sector in providing face-to-face debt advice in Northern Ireland. From April 2006 to March 2008, the service handled £30million of consumer debt for some 4,000 clients.

“The credit boom has given way to the credit crunch and can only increase the demands on a consumer debt advice service.

“The additional resources now being made available will increase the capacity of the sector to deal with the ongoing problem of over-indebtedness in our society.”

In addition, the minister announced further funding of £200,000 to enhance the provision of telephone debt advice services in Northern Ireland. This type of service is more widely established in the rest of the UK and has an excellent record of providing effective debt advice.

Notes to Editors:

  1. DETI has been involved in debt advice since January 2005 and in April 2008 awarded a new three year contract worth £400,000 each year to Citizens Advice. This contract will enable the provision of a face-to-face debt advice service in Northern Ireland for the three year period up to 31 March 2011.
  2. The additional funds will increase the amount available for a face-to-face service to £800,000 in 2009/10 and 2010/11. £200,000 will also be made available for the telephone service.
  3. The previous two year contract which ended on 31 March 2008 handled £30million of consumer debt for some 4,000 clients. Face-to-face debt advice had been available at Citizens Advice offices throughout Northern Ireland and at two independent advice centres. The service was particularly targeted at clients who had limited access to advice services.
  4. For media enquiries please contact DETI Press Office, telephone 028 9052 9297. Outside office hours, please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.