Unaffordable debt from mail order catalogues is prompting more calls for help to a charity than payday loans, mortgages or rent. The Money Advice Trust said that this form of debt was often "unmentioned", but remained a key concern. National Debtline, which is run by the charity, received a record 25,235 calls about catalogue debt last year, up 10% compared with a year earlier. That was nearly double the number received in 2007. The charity has had a further 7,095 calls so far this year.
Court concern
Families on tight budgets have been turning to catalogues to take advantage of keen prices and offers to buy now and pay later with no interest. However, some find they are unable to settle the bill. "Catalogue debts go largely unmentioned in public these days, but advisers at National Debtline hear from nearly 100 people every day struggling to repay such debts," said Joanna Elson, chief executive of the Money Advice Trust....Read more here: Catalogue debt problems rising, says Money Advice Trust
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Catalogue debt problems rising, says Money Advice Trust
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#15corpio commented14 June 2012, 10:52Editing a commentA group of influential MPs heard debt help offered by the Money Advice Service (MAS) is “abominable”. The Treasury Committee today (13 June) also heard millions of pounds earmarked for it’s website was a “narcissistic exercise”, which is unnecessary as it would be competing with better products already out there. According to evidence heard by the committee MAS aims to reach 19m people, or a third of the population, and will spend £20m of taxpayer’s cash to improve its website....Read more HERE
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