Free Debt Management service launched

Local firm, Blue Sky Financial has launched a free Debt Management service for people experiencing difficulties in managing their finances and who are struggling to pay their debts.

A new online portal dedicated to Debt Management is now available at and provides information and services for consumers, including free tips for dealing with debt.

Qualified Blue Sky Debt Management representatives are also taking calls in confidence and people do not need to have had any previous business relationship with the company. Anyone seeking debt advice can call 042 9329333.

Consumers can also call into the Blue Sky Dundalk branch at 45 Dublin Street and speak face to face with members of the Debt Management team about options that are available to them.

“Huge numbers of people are silently suffering under the burden of debt”, said Blue Sky director, Gary Valentine. “People should not keep it to themselves as this will only add to the strain. There are options available to people but more importantly it is crucial that consumers put a debt plan in place that is viable for them. Financial institutions are willing to be reasonable if a genuine effort is being made by consumers to address problems of debt and often there is legislative protection as well.’’

The value of talking to a Blue Sky representative is that the company will act as a mediator between people in debt and their lenders, in order to provide repayment agreements that are manageable.

“People should realise that the majority of Irish citizens have financial pressure of some degree, given the collapse of the economy. Therefore, suffering consumers should not feel isolated,” said Gary Valentine. “The Blue Sky Debt Management service will assist people in planning a budget and advice on areas of potential savings. Blue Sky will also engage with lenders with a view to writing down loan balances where applicable.”

On a related matter, Paddy Greene, CEO of Blue Sky Financial nationwide said, “We will be lobbying for some level of debt forgiveness for people who acquired large mortgages at the height of the boom. A planned approach is needed from all concerned sectors for example government, banks and consumers because it simply does not make financial sense for people in huge negative equity to continue making their repayments and there is no point in pretending that they will. There is debt forgiveness for banks and developers so consumers should be no different.’’

For more information on Blue Sky Financial please visit