Press Release

CCCS OPENS NE CENTRE

July 14, 2005

With levels of debt rising to unprecedented levels, Sir Ian Wrigglesworth, chairman of Baltic, officially opened the North East Centre for Credit Counselling in Newcastle today (July 14). The centre will be operated by the UK’s leading debt charity, the Foundation for Credit Counselling.

The Foundation, which is the umbrella charity for the Consumer Credit Counselling Service (CCCS), has over 100 counsellors nationwide, helping consumers through counselling interviews, advice packs and repayment plans. There is no charge for any of its services.

The North East Centre for Credit Counselling has fourteen full time counsellors, making it the biggest centre outside the charity's head office in Leeds. The Centre also has one of the most successful track records in helping clients to repay their debts. In the last two years, the Centre has provided in-depth advice sessions to over 2,000 people with debt problems.

So far this year, calls to CCCS helplines have increased nationally by more than 50 per cent compared with the same period in 2004 and this increase appears to be accelerating. FCC chairman, Malcolm Hurlston says:

"Retailers may be complaining that consumers are spending less, but there is increasing evidence that people may have built up more debts than they can service. It is that need which we aim to meet with our expanded operation in the north east."

According to the CCCS, the average client in the North East owes £23,000 to creditors, not including mortgages. Clients in the North East are currently repaying £102million to creditors through the CCCS.

CCCS gives free, impartial advice to borrowers in financial difficulty. Its helplines are open between 8am and 8pm, Monday to Friday on our free phone number 0800 138 111.