With satellite television carrying a near constant barrage of debt-relief advertising, Conservative Parliamentary Spokesman for Thanet South, Laura Sandys urges families in debt to get help in the New Year.
“If debt has mounted up over Christmas, I urge people to contact the range of organisations that can help them get out of debt, and not enter new arrangements that will merely increase the debt.” Said Laura Sandys who has made debt relief one of her key issues since being selected as Conservative Parliamentary Spokesperson for South Thanet.
“While many will be recovering from overindulgence from food and drink there are some in Thanet that will be facing a much longer term hang over from Christmas – that of debt. In Thanet, as across the country, people are encouraged before Christmas to take out store card loans and loans from home credit companies. It is after Christmas when the illegal lenders – loan sharks - then target those who are unable to meet their repayments.”
“With over 7 million people in the UK facing debt problems, personal debt is one of the most serious social problems facing the UK today” said Laura Sandys. “It is in the next few weeks that many families in Thanet will be feeling the pinch. It is exactly at this time when illegal lenders will be pushing their loans on the most vulnerable – offering immediate cash at rates ranging from 100% - 400%. “
Debt not only creates financial vulnerability but also causes significant social problems. 10 million people suffer relationship problems because of debt, with financial difficulties contributing in some instances to divorce, crime and drug dependency. “I am committed to campaign to secure greater safeguards for people on the lowest incomes and severely punish those who exploit the financially vulnerable for their own ends.”
“There are several organisations that can help people in debt and Thanet District Council has been running debt advisory meetings as well. With Britain’s debt increasing by £1million every 4 minutes, I am calling for the Government to crack down on illegal loan sharks that prey on the most financially vulnerable and improve financial education in schools so that our children don’t fall into the debt trap,” stated Laura.
Organisations that offer advice in Thanet include:
* Citizens Advice Bureau: 01843 225973
* Consumer Credit Counselling Service: 0800 652 0775.