Ministers urged to act on ‘lack of debt advice’

British government ministers have been urged to take action to remedy the lack of free advice available to heavily indebted consumers.

The Liberal Democrats have insisted that more needs to be dome to help the tens of thousands of families who are struggling to become debt free and are at risk of losing their homes.

According to the opposition party, there are as many as 60,000 families across the country in danger of repossession and are having to spend the bulk of their disposable cash on servicing mortgage debts.

Communities and local government spokesperson for the Liberal Democrats Julia Goldsworthy commented: “This government has buried its head in the sand and it is overstretched families who are paying the price.

“Ministers must act decisively and commit resources to a national network of financial advice centres, with face-to-face services that are free at the point of use.”

The cost of borrowing has been rising in recent months despite the cuts in the base rate of interest, according to a recent report from price comparison firm MoneyExpert.