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by Caoimhinn Barr, Inishowen Independent
INISHOWEN people in financial difficulty have been
warned to be avoid unscrupulous money lenders and
contact charity organizations like St. Vincent De
Paul for help instead.
With many local families struggling to pay large
fuel bills and sustain high costs of living, loan
sharks have targeted a number of homes in the
peninsula offering instant cash at exorbitant rates.
One company charges 150 per cent interest rates
meaning that a family accepting a 24-month term loan
of €500 would be forced to pay back more than €1,500
in two years.
North-West St. Vincent de Paul vice-president Kevin
Cooley urged residents to resist the temptation of
accepting short-term fixes and getting deeper into
debt.
“It is so convenient for families in need of a quick
fix solution to accept money to pay large oil or
coal bills but if people do need money in the short
term I would urge them to come to us for help first.
Don’t get caught up with money lenders because once
people start - they begin to depend on them more and
more. These lenders are becoming a big worry,” he
warned.
Kevin said that St. Vincent de Paul could help
beleaguered families here to meet their monthly cost
of living. He said many were continuing to find
things tough with no sign of an economic recovery on
the horizon.
“There have been so many cuts across the board that
certain families can be down maybe €20 or €30 per
week, which is a lot of money to them,” he said.
He said the forthcoming budget, which is expected to
see further austerity measures across the board, is
coming at the ‘worst possible time’. He added that
families often face their worst financial crises
after Christmas.
“People save and prepare for Christmas but they are
still often forced to spend money that they would
normally need for weekly or monthly living. We are
finding a lot of people coming to us in January as a
result,” he added.
If you find yourself unable to meet the cost of
living contact your local branch of St. Vincent de
Paul on 074 9361264 or 0867856869 or phone the SVP
office in Raphoe on 0749173933. |
