GLASGOW residents borrowed tens of millions of pounds last year at crippling interest rates as they struggled with a mountain of debt.

And today a financial helpline was being offered to cash-stricken householders with the launch of a special debtbusters campaign.

Newlands Labour councillor Stephen Curran is teaming up with Greater Pollok Citizens Advice Bureau to hold a two-hour money advice session for residents in Carnwadric, Kennishead and Regent Park.

The drop-in event is being held from 1pm at the Carnwadric Hall in Kiloran Street, with advisors on hand to give free and confidential help.

Councillor Curran said: "Money is tight now for so many people who often don't know where to go for help when they get into debt or have problems paying bills.

"We need to act more quickly to support those heading for a real crisis due to financial worries.

"There's a cost of living crisis, with prices going up much more than wages.

"Far too many in this part of Glasgow are struggling to budget, with uncertain incomes due to temporary jobs or zero hours contracts.

"Benefit changes like the Bedroom Tax and sanctions for those seeking work are also causing major problems.

"Glasgow City Council recently found that one-in-five Glasgow citizens had turned to payday or doorstep loans, borrowing a huge £57 million last year, often getting into a debt cycle, with high payments every month and crippling rates of interest."

"It's like an epidemic that punishes people who struggle to pay with the little they have.

"It's an even bigger problem in Carnwadric and Kennishead, where those on the lowest incomes seem to have been targeted by doorstep lenders."

Doorstep lenders are companies which deliver loans in cash direct to the homes of borrowers and often agents then call every week to collect repayments.

Councillor Curran added: "The debtbusters campaign challenges legal loan sharks, payday and doorstep lenders by promoting credit unions as a better alternative, like Pollok Credit Union, in this part of Glasgow.

"Debtbusters is also pushing MPs and MSPs to change the law in both parliaments, regulating lenders and cutting massive interest costs for those in debt."

gordon.thomson@ eveningtimes.co.uk