As the coronavirus pandemic holds the country in its deadly grip and the effects of restrictions take their toll, the spectre of job losses and the inevitable inability to meet financial commitments is a major worry for many people.

Now more than ever, it is important to seek good advice when planning your response to this crisis. Mabs, the State’s money advice and budgeting service has a track record in helping people in difficult financial circumstances.

“We have worked very hard to ensure we are able to continue to provide the full range of services to the public at this time. The team have really stepped up to the challenges and are here to help,” said Ursula Collins, South Munster regional manager.

Cork office money advice co-ordinator Jessie Anthony says South Munster Mabs continues to support its clients through this very difficult period. “We want to reassure the public that we are continuing to provide a service and are available to help and support people in financial difficulty.”

In response to Covid-19 restrictions, South Munster Mabs staff are remote working. A team of experienced money advisers is available to assist clients to formulate solutions to their financial problems.

“For many people it might be the first time they have money worries or thought of contacting Mabs. We can assist people by contacting creditors on their behalf, drafting budgets and repayment solutions and advising on the range of insolvency options.

“People will be wondering if they can continue to pay their bills and service their loan repayments. We urge anyone dealing with financial worry and stress to contact our service. Assessing your situation is the first step to finding a solution,” said Ms Anthony.

For many people it is often finding a balance between income and expenditure. However, with this crisis, income will often be under threat and uncertain, while expenditure will remain the same and may even increase. Mabs advises the following:

Income

The first step in assessing your situation is to calculate the income coming into a household. Mabs will help people to maximise their income. There are social welfare payments available for people who have lost work, who cannot work or who are sick during the Covid-19 pandemic.

Information is available on citizensinformation.ie and mywelfare.ie.

Outgoings

The service offers simple but useful advice when it comes to spending and urges people to draw up a list of outgoings. Starting with the priority payments such as mortgage/rent; utilities; food; motoring; and house insurance. Highlight essential payments.

Creditors

Make a list of who you owe money to and how much. Contact your creditors explaining that you are experiencing difficulties. Remember some debts are more important than others, and it is important to identify your priority debts.

Working out a budget

A budget will help you to:

See how much money is coming into the household.

See how much money is going out.

Work out how much money you have left.

Work out affordable offers to creditors, if any.

Plan for future spending.

The first step to recovery is often the most important one and it is good to know that help is at hand.

“Don’t ignore financial problems, Mabs is a free service and will help you come through difficult times,” said Ms Anthony.

Mabs Helpline: 0761 072 000

Cork Mabs: 086 023 6930

Dunmanway: 086 784 9514

Mallow: 089 250 5037

Charleville: 087 268 2176

Tralee and Killarney: 087 410 1355