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15 January 2010

The Money Advice Trust  today commented on "The real cost of Christmas" report published today by the Financial Inclusion Centre. 

National Debtline, run by MAT, helped approximately 150,000 people in debt during 2009. Experience from the free, impartial telephone helpline shows that borrowing money from Loan Sharks can quickly escalate and have a devastating effect on people's lives.

MAT fully supports the Government's approach and specialist loan shark team which was piloted in Birmingham and expanded into a National Scheme to combat Loan Sharks.

Joanna Elson, Chief Executive, Money Advice Trust said:

"The findings of this report are truly scary for those living with this problem. The work done so far by the Government to tackle this issue has been excellent but the problem is clearly escalating. We would urge the government to carry on its good work in this field, and encourage any future administration to continue to tackle these illegal organisations which can ruin people's lives"

If you are experiencing debt problems related to this issue or not, get in touch with National Debtline who offer free, impartial advice on how best to combat debt.

Tel: 0808 808 4000
 www.nationaldebtline.co.uk

 

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