Advice is available for those with big debts

By Simon Tostevin

NO MATTER how much a person’s personal debt escalates to, it is never too late to go to the Citizens Advice Bureau, according to its manager.

In the past week, the Royal Court has jailed two women for stealing a substantial sum from their employer. The court heard that the pair had accumulated personal debts of £98,000 and £57,000 respectively, which was given as one of the reasons for the thefts.

Bureau manager Kate Raleigh said that although she could not comment on individual cases, the sums mentioned in court were not unusual in the island.

‘If you are in trouble, then we are always here to talk to. But those amounts of money are not unheard of. It’s not unusual that people come in and see us with that sort of debt.

‘We would hope to carry out some negotiations with their creditors.

‘We would try and help as best we can and we are happy to do so.’

Mrs Raleigh said the cut in the Bank of England base rate from 5.25% to 5% on Thursday could and should be good news for borrowers, but she was worried to hear that some firms were not going to pass it on.

‘The cut in interest rates is a move in the right direction but it will help only if it’s passed on.’