IN SHOCKING FIGURES the Fermanagh Herald can reveal that the total debt accrued in the county last year was a colossal £3.76m.
The revelations have come to light through the publication of the annual report from Debt Action NI, a group which provides free, confidential and independent financial advice services.
The report which covers the last financial year shows the Fermanagh council area to be one of the highest problem areas for debt in Northern Ireland, behind just Belfast, Derry, Newry and Lisburn with £3,760,538.
The average debt per client meanwhile stands at a hefty £18,434, again well above the average in the North.
With swingeing welfare cuts announced across the North in area such as health, there is a real possibility the issue of debt within the county could escalate further in this financial year.
Referring to the report and mortgage debt is consistently the highest debt in terms of amount with a total debt in the North of £14,172,309, while Mortgage shortfall accounts for £13,420,328. Credit card debt, personal, bank and secured loans are also high on the list, followed by business debt, tax, overdraft debt and benefit overpayment.
Kevin Lawrenson of Debt Advice NI, based in Enniskillen noted the figures made interesting reading with the latest report showing that more people in employment are now getting into debt.
He confirmed that the figures were indicative of the current situation in Fermanagh with mortgages the highest debt in the county at present.
“We’re very busy. My biggest thing at the minute is mortgages and I have just seen two people this morning already. My next appointment is at 12 o’clock and surprise, surprise it is a mortgage.
“People can’t afford them and if the interest rates do rise, what’s going to happen then? Nobody seems to bother with them so these people just have to go on, but we do everything we can to help them.”
At present Kevin has in excess of 300 open debt cases, 25% of which are house related.
It is not all doom and gloom however though as the report indicates that Debt Action recorded outcomes in 5,659 cases last year. One of those is a 72-year-old woman from Fermanagh known only as Margaret. Margaret is retired and has been diagnosed with cancer. She had been through major surgery and was about to start another round of chemotherapy when she contacted the service. Margaret had two credit cards and owed over £10,000 and was not able to maintain the payments. With the pressure of the debt adversely affecting her health a debt advisor successfully negotiated a full write off of her debts on the grounds of her poor health. This was a massive relief to Margaret who is now debt free.
For debt advice you can contact Debt Action NI on freephone 08009174607 or visit the website at www.debtaction-ni.net.
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