Whilst the crisis began in the mortgage lending business in the USA, it has had a global effect and some people in Derry have not escaped.

This new service is absolutely free, with free consultations provided by the well-known Derry-based company McCambridge Duffy.

Ronan Duffy, an Insolvency Practitioner with McCambridge Duffy, says the new initiative with the Journal Group is aimed at educating people in Derry about more manageable ways of escaping debt.

“We help hundreds of people each month by working with them to find the right solution,” said Ronan.

“This could range from general advice on better household budgeting to a more structured debt solution involving an arrangement with creditors. Whatever the solution it has to be affordable for the household and McCambridge Duffy can help.

“We are delighted to be joining forces with the Derry Journal.”

He went on: “Struggling with debt can be a very harrowing experience and can affect all areas of an individual’s life as well as affecting their family. People with debt problems suffer from stress and depression, it affects their performance at work and can even aggravate illnesses. “

Ronan continued: “People borrow money with the intention of paying it back. However circumstances arise which mean the individual is no longer in a position to pay back their debts. It could be from one particular event, such as the loss of a job, the birth of a child or the splitting up of a relationship. The family income is reduced and some cling to a hope that the situation will improve quickly and so they continue to spend at their previous levels.

“It is important for people to realise that there are a range of solutions available and they shouldn’t stick their head in the sand and hope their problems will go away”

Top provider

Greg Harkin, Editorial Director of the Journal Group, said: “We received a number of approaches in relation to providing this sort of service to our readers.

“Not only does McCambridge Duffy employ 90 people at its offices in this city, it has been rated the number one provider of debt solutions by a number of independent audits.

“These sort of problems affect a relatively small number of people, but it’s important that those who are facing financial problems get this free expert advice.”

Details on how you could benefit from a free consultation can be found on page one of Section Two and includes real life examples of debt solutions provided by McCambridge Duffy