Foster reinforces commitment to dealing with Debt

Enterprise Minister Arlene Foster has reinforced her commitment to helping those who are burdened with debt.

The Minister was speaking at the second Northern Ireland Discussion Forum's Annual Conference, which was supported by the Money Advice Liaison Group. The conference entitled ‘Debt Collection in a Downturn’, offered a platform for debate on important issues relevant to today’s society and economic climate.

Speaking to a wide cross-section of representatives from business, government and community and voluntary sectors, Arlene Foster said: “The economic downturn is being felt right across Northern Ireland and its effects are making debt one of the most serious and damaging problems affecting the community.

“My department is seeking to help those in financial difficulty by providing help at the earliest opportunity, including easy access to face to face advice.

“We awarded a £1.2million, three year contract to the Citizens’ Advice Bureau last year, to maintain this much-needed service up to 2011. Nearly 2500 new clients used this debt facility between 2008-2009, with associated debt of £24.5million. This represents an increase in total debt of 77.5% on the previous year.

“Unsurprisingly, 2009 has seen continued demand on services. During the first quarter of the year, from April-June, advisers dealt with around 530 new clients owing over £6million of debt.

“I appreciate that debt is a complex issue to which there is no single solution and I am committed to working with the existing debt advice network, to help bring forward initiatives as we seek to address the problem of debt in our society.”

Hosted by Ulster Bank, conference delegates also heard from Eric Leenders, Executive Director of Retail, British Bankers’ Association and Debbie Mills, Manager of the Consumer Credit Counselling Service, who gave presentations on their insight into ‘Debt Collection in a Downturn’ from both the perspective of a creditor and that of a debt adviser.

Note to Editors:

1. The Northern Ireland Discussion Forum (NIDF) for creditors, debt collecting agencies and advisers, aims to provide an opportunity for communication, better understanding and best practice between all sectors for the benefit of those individuals suffering serious financial difficulties.

2. NIDF is supported by the Money Advice Liaison Group which aims to provide a common forum for professional debt advisers, voluntary sector advisers, creditor companies, Government Departments, utility companies, debt collecting companies. It has been running for 20 years in the UK and aims to provide opportunities for all sides of the credit industry to establish better working relationships.

3. For media enquiries, please contact DETI Press Office on 028 9052 9297. Out of office hours, please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.