Free mortgage arrears advice for debt-plagued Dudley residents (From Dudley News)

Free mortgage arrears advice for debt-plagued Dudley residents

10:36am Monday 7th January 2013 in News

FREE mortgage arrears advice is being offered to borough residents who fear they may lose their home due to repossession and mounting debts.

Dudley Council’s homelessness team and Dudley District Citizens’ Advice Bureau have teamed up to offer advice to anyone in the borough having difficulty keeping up monthly mortgage or secured loan payments.
 

Between April and September 2012 the service received 185 referrals for borough residents in need of help because of the possibility of repossession.

Last year there was a sudden surge in enquiries during January and February, with the service receiving 20 per cent of its total calls for the year in this period.

But in the vast majority of cases the service was able to offer advice and support to prevent the loss of homes.

Councillor Khurshid Ahmed, Dudley’s cabinet member for housing, said: “This is an excellent, free service which is available to anyone living within the Dudley borough who is worried about debt and losing their home.

“The festive season often leads to people getting into debt after spending beyond their means, which everyone feels pressure to do. This initiative means they have someone who they can turn to for support and advice.”

In Dudley, the top three worries that could lead to repossession are relationship breakdowns (21 per cent), financial capability (20 per cent) and unemployment (12 per cent).

Nationally, according to research by Credit Action, every 15 minutes and 30 seconds a property is being repossessed - which equates to around 93 per day.

Anyone who wants to use the confidential and impartial Dudley service can call 01384 816499 or visit the Citizens’ Advice Bureau.