MEP concerned about house repossessions (From The Westmorland Gazette)
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MEP concerned about house repossessions
8:37am Wednesday 21st December 2005 in News By South Lakes Citizen
THE rise in the number of house repossessions in Cumbria could be evidence of many families living beyond their means, according to a local Euro MP.
Recent Government figures show that mortgage repossessions in Cumbria are up 41 per cent on last year, with a 25 per cent increase in the number of bankruptcies.
Cumbrian MEP Chris Davies believes this is an indication of over-borrowing in many households and he is calling on the Chancellor to take urgent action and wants the financial services industry to set up independent advice centres for the public.
"People should be able to get quick and easy access to help as soon as they start having money troubles. All too quickly a small debt grows out of control and people don't know where to turn," he said.
