Mary Coughlan Minister for Social and Family Affairs has moved to end the potential embarrassment of people approaching the Money Advice and Budgeting Service.
As each of the fifty two Money Advice and Budgeting Services around the country are stand alone companies, the names of Directors were shown on all headed paper.
The Minister was made aware that some MABS companies felt that publication of their Directors names was a deterrent to people approaching the company – and sought to have them removed.
“I am pleased that an exemption has been granted under the Companies Act allowing this change. I was made aware that people in the service felt that some people were not approaching MABS because they knew the Directors and were concerned that anyone might know they were availing of the service, " said Minister Coughlan.
"I would stress the service is confidential and those fears are unfounded – however, it was felt by the Money Advice and Budgeting service that this change was necessary "
"MABS is doing wonderful work in helping people to sort out their financial affairs and live without the shadow of the moneylender, " concluded Minister Coughlan.
Under the changes, however, all business letters of the MABS Company will have to contain the following statement. "A list of the names and personal details of every director of the company is available for inspection to the public at the company’s registered office for a nominal fee. "
MABS was established in 1992 with a budget of £330,000, and today has over fifty offices offering confidential professional advice. The service now costs over €10 million a year to run and is funded by the Department of Social and Family Affairs. The service is free and independent to customers.
Ends June 28th 2004