PRESS RELEASE
May 14, 2007

Malcolm Moss MP welcomes Credit Awareness Week

Malcolm Moss MP has signed Parliamentary Early Day Motion1440 in support of Credit awareness week, starting today, which aims to help the British public and the residents of North East Cambridgeshire gain better control of their financial affairs.

Seventy six percent of people in the Eastern region admit to regularly overspending and millions in Briton generally are driven to consider last resort measures such as bankruptcy, according to new research published today by CreditExpert.co.uk.

Financial mistakes, like taking out expensive loans with long payback periods and irrational ‘therapy spending’ caused by stress, arguments with partners or simply feeling low are some of the main contributors to the large number of Britons regularly overspending. Consumers can easily find themselves getting involved in credit without understanding the potential risks they are taking.

Malcolm Moss MP says:

“I have become involved with Credit Awareness Week as I feel it’s imperative that people fully realise the implications of not managing their finances properly. With national debt levels continuing to rise, it is vital that individuals understand credit agreements and financial terminology, something that was strongly emphasised by debt counsellors on my recent visit to the Wisbech CAB. There are a lot of places that consumers can turn to for help and advice and www.creditawarenessweek.co.uk is an excellent place to start to help people find their way through the financial jungle.”