Éamon Ó Cuív (Galway West, Fianna Fail)

The Citizens Information Board, which comes under the aegis of this Department, is responsible for the Money Advice and Budgeting Service, which assists people who are over-indebted and need help and advice in coping with debt problems. The role of money advisers is to help clients to assess their financial situation, make a budget plan and deal with creditors.

There are 51 MABS companies providing money advice to clients operating from 65 locations around the country, as well as National Traveller MABS, which operates on a national basis. In addition, MABS National Development Limited is funded by the Citizens Information Board to provide a national support and development service to local MABS companies. The MABS national telephone helpline is available from 9 a.m. to 8 p.m., Monday to Friday, and the MABS website can be accessed 24 hours a day at www.mabs.ie. Some 90% of clients presenting to MABS are assisted through the telephone helpline which provides assisted self-help to ensure clients take steps to assess and address their situations. Last year, an additional 19 money advisers were recruited by MABS, bringing the number of MABS staff to 277. The additional advisers have been appointed to MABS companies throughout the country.

The money adviser works out a budget and negotiates on behalf of the client with all creditors, including financial institutions and sub-prime lenders, to secure better terms for the client in managing the repayment of their debts. Where required by the client, the money adviser can assist with setting up a special account with a local credit union into which the client lodges an agreed amount of money regularly and from which each month the money adviser makes the repayments to the creditors on behalf of the client. It is important that people coping with debt difficulties take early action and approach MABS for help and guidance, which can be the first positive step for people in addressing debt difficulties.

The Department was represented on the expert group on mortgage arrears and personal debt, established by the Department of Finance and chaired by Mr. Hugh Cooney, which published its final report on 17 November 2010, with recommendations on measures to assist in dealing with the difficulties created by mortgage arrears.

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