6 March 2008
A politician from Hampshire has asked that those with debt be given more assistance from the government.
Romsey's Liberal Democrat MP Sandra Gidley suggested that a new personal debt (advice and regulation) bill could improve the situation as lenders would not be able to hand out money as easily, reports the Southern Daily Echo.
And she claimed that it has become relatively easy for individuals to gain credit, on credit cards and loans, while society is now "increasingly materialistic".
She commented: "Debt levels in this country have reached crisis point. From unsecured loans, to soaring overdrafts, university fees and credit card bills, we are churning out generations of young people burdened with debt."
Ms Gidley stated that while this is a national problem, the local Hampshire area has seen its fair share of those to be hit, as 3,671 home repossessions have taken place in the past 12 months.
In related news, MPs are set to get access to information on dealing with personal finance, after Financial Fringe decided to send them a booklet about the topic.
© 2008 Adfero Ltd
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