MABS - Be Moneywise In The New Year

“Money makes the world go ‘round.” Nice to hear when you have a lot of it. Disheartening to hear when you don’t.

We have had a crazy last four years. The economy has been rattled by a pandemic and we now have two wars that don’t seem to be dissipating. Budgeting is on everyone’s minds in relation to the price of food, fuel, and materials in general. Debt is a dreaded thing to creep up on a person; the insidious escalation can turn a person’s life upside down, with it seeming like there is nowhere to turn for help. Well, there is!

That being the Money Advice and Budgeting Service, Ireland or MABS. Founded in 1992, MABS is a free, independent, confidential and non-judgemental money advice and budgeting service for all members of the public. MABS primarily works with people experiencing over-indebtedness. MABS money advisers work with clients who may have difficulties with a wide range of personal debts including personal loans, mortgages, credit card debt, catalogue debts, debts to legal moneylenders and hire purchases. Money advisers help clients by reviewing their budgets, negotiating with their creditors and looking at opportunities to maximise their income.

Money advisers also act as Approved Intermediaries under personal insolvency legislation for clients availing of a Debt Relief Notice. MABS has always dealt with mortgage and housing related debt and this is treated as a priority debt in MABS. MABS has an additional panel of over 30 Dedicated Mortgage Arrears Advisers to work with clients on their mortgage arrears issues. MABS acts as the gateway to advice under the Abhaile scheme, which provides vouchers for clients to see Personal Insolvency Practitioners, legal or financial advisers. In addition, MABS supports clients at all of the repossession court sittings in the country as Court Mentors. MABS has a remit in Money Management Education by advising clients about budgeting and debt management and facilitating group talks in schools and the community in relation to money management, good saving and spending habits, sources of credit and the avoidance of overindebtedness.

Their website - mabs.ie - offer a whole host of pages from advice in managing money, understanding the available supports, and a fantastic budget tool.

Do not let debt ruin your life. Take control. If you are in trouble, you can find them online at MABS - Money Advice and Budgeting Service or through their helpline at 0818 07 2000, Mon - Fri 9am to 8pm.

An outreach clinic is available in the James O’Keeffe Institute. To get in touch, call the Mallow office on 0818072440 or email mallow@ mabs.ie.