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Debt Relief Needs To Go Further

30 June, 2011

Sinn Féin Spokesperson on the Economy Conor Murphy has said that the Debt Relief Scheme announced today by the Department of Employment and Learning does not go far enough.

Mr Murphy said,

“More and more people are finding themselves in debt that they have no realistic chance of repaying, due to the current economic downtown, and therefore finding it hard to pay basic household bills but this scheme is very limited in helping those people.

“While on the face of it the scheme looks welcoming, the eligibility criteria limits it to up to a thousand people and the vast majority of people on even the lowest incomes will fall outside the parameters of successfully applying for relief.

 “It is important that people who are overwhelmed by debt are given an opportunity to find a way out of their misery and get their lives back on track.

 “We need to be looking at broader measures which would encompass the many people living in the vicious cycle of paying debts and interest rates while unable to buy basic commodities like food and clothes.

“I am calling on those who are burdened by debt to get advice immediately so that help can be applied on getting them into a situation where they are able to manage the problem without causing their selves severe economic hardship.

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